tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Mammoth Resources Closes First Tranche of Upsized Private Placement

Story Highlights
Mammoth Resources Closes First Tranche of Upsized Private Placement

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Mammoth Resources ( (TSE:MTH) ) just unveiled an update.

Mammoth Resources announced the closing of the first tranche of its upsized private placement, raising $545,548 through the issuance of 21,821,902 units. This move is part of a larger effort to raise up to $980,000, with each unit consisting of one common share and one-half common share purchase warrant. The funds are expected to support the company’s exploration activities and strengthen its position in the precious metals industry.

Spark’s Take on TSE:MTH Stock

According to Spark, TipRanks’ AI Analyst, TSE:MTH is a Underperform.

Mammoth Resources faces significant financial challenges with persistent losses and negative equity, severely impacting its financial performance score. While technical indicators suggest short-term positive momentum, the overbought RSI warns of possible price corrections. The negative P/E ratio and absence of dividends further detract from the stock’s appeal, resulting in a low overall score.

To see Spark’s full report on TSE:MTH stock, click here.

More about Mammoth Resources

Mammoth Resources is a precious metal mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other mining-friendly jurisdictions in the Americas. The company holds a 100% interest in the Tenoriba gold property in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico, and seeks additional opportunities for exploration projects in the Americas.

Average Trading Volume: 281,036

Technical Sentiment Signal: Sell

Current Market Cap: C$2.36M

See more data about MTH stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1