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Meridian Mining SE ( (TSE:MNO) ) has issued an announcement.
Meridian Mining plans to raise roughly C$40 million through a bought-deal sale of 25.3 million shares at C$1.58, with underwriters holding a 15% over-allotment option that could lift proceeds to about C$46 million and closing expected around February 12 pending customary approvals. Net proceeds are earmarked for the Cabaçal definitive feasibility study, Santa Helena resource work, wider belt exploration, and general corporate needs, bolstering Meridian’s push toward project development and strengthening liquidity for its Brazilian growth pipeline.
The most recent analyst rating on (TSE:MNO) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Meridian Mining SE stock, see the TSE:MNO Stock Forecast page.
Spark’s Take on TSE:MNO Stock
According to Spark, TipRanks’ AI Analyst, TSE:MNO is a Neutral.
The score is held back primarily by very weak financial performance (no reported revenue, sizeable losses, and ongoing cash burn), partially offset by a debt-free balance sheet with improved equity. Technicals and recent positive project/regulatory milestones support near-term sentiment, but valuation is constrained by negative earnings and the lack of a dividend yield.
To see Spark’s full report on TSE:MNO stock, click here.
More about Meridian Mining SE
Meridian Mining plc is a Toronto-listed mineral exploration and development company advancing the Cabaçal VMS gold-copper project and related exploration targets across the Cabaçal belt and other greenstone belts in Mato Grosso, Brazil, aligning its portfolio with precious and base metal demand.
Average Trading Volume: 523,780
Technical Sentiment Signal: Buy
Current Market Cap: C$648.9M
Learn more about MNO stock on TipRanks’ Stock Analysis page.