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The latest announcement is out from NGEx Minerals ( (TSE:NGEX) ).
NGEx Minerals Ltd. has announced a special meeting for shareholders to vote on a spin-out transaction involving net smelter returns royalties from its Lunahuasi and Los Helados projects. The proposed arrangement will result in shareholders receiving new shares of NGEx and a portion of shares in a new entity, Delta Royalties Corp. The board of directors supports the arrangement, deeming it fair and in the best interests of the company, and recommends shareholders vote in favor.
The most recent analyst rating on (TSE:NGEX) stock is a Hold with a C$23.00 price target. To see the full list of analyst forecasts on NGEx Minerals stock, see the TSE:NGEX Stock Forecast page.
Spark’s Take on TSE:NGEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:NGEX is a Underperform.
NGEx Minerals faces significant financial challenges with persistent losses and negative cash flows, heavily impacting its overall score. While recent corporate events suggest potential growth in resource value, they do not sufficiently counterbalance the financial weaknesses. Technical indicators and valuation also show weaknesses, contributing to the overall cautious outlook.
To see Spark’s full report on TSE:NGEX stock, click here.
More about NGEx Minerals
NGEx Minerals Ltd. operates in the mining industry, focusing on the exploration and development of mineral properties. The company’s primary projects include the Lunahuasi and Los Helados projects, with a market focus on net smelter returns royalties.
Average Trading Volume: 267,229
Technical Sentiment Signal: Buy
Current Market Cap: C$4.11B
See more data about NGEX stock on TipRanks’ Stock Analysis page.