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The latest update is out from MCAN Mortgage ( (TSE:MKP) ).
MCAN Financial Group has renewed its at-the-market (ATM) equity program, allowing the company to issue up to $75 million in common shares to the public. The program, which has been a successful tool for raising capital over the past four years, will support the company’s growth in its mortgage lending and investing business. The ATM program offers a low-cost source of capital, and its renewal is expected to further enhance MCAN’s ability to expand its operations and strengthen its market position.
The most recent analyst rating on (TSE:MKP) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on MCAN Mortgage stock, see the TSE:MKP Stock Forecast page.
Spark’s Take on TSE:MKP Stock
According to Spark, TipRanks’ AI Analyst, TSE:MKP is a Outperform.
MCAN Mortgage’s strong valuation and positive corporate events are the most significant factors driving the score. The company’s financial performance is robust, but liquidity concerns due to negative cash flow need attention. Technical indicators show bullish momentum, supporting the stock’s positive outlook.
To see Spark’s full report on TSE:MKP stock, click here.
More about MCAN Mortgage
MCAN Mortgage Corporation, operating as MCAN Financial Group, is a public company listed on the Toronto Stock Exchange under the symbol MKP. It is the largest Mortgage Investment Corporation (MIC) in Canada and the only federally regulated MIC that issues term deposits eligible for Canada Deposit Insurance Corporation deposit insurance. MCAN’s primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential and non-residential construction, commercial loans, and other real estate investments.
Average Trading Volume: 41,834
Technical Sentiment Signal: Buy
Current Market Cap: C$834.6M
See more data about MKP stock on TipRanks’ Stock Analysis page.