NGEx Minerals Launches Phase 4 Drilling at Lunahuasi

NGEx Minerals ( (TSE:NGEX) ) just unveiled an announcement.

NGEx Minerals has initiated its Phase 4 drill program at the Lunahuasi property in Argentina, following a successful Phase 3 program that revealed high-grade copper, gold, and silver intercepts. The new program aims to further explore the four identified mineralization styles and expand the deposit’s boundaries, with a planned 25,000 meters of diamond drilling. The company is well-funded following a C$175 million private placement, positioning it to potentially expand the program if warranted.

The most recent analyst rating on (TSE:NGEX) stock is a Hold with a C$26.00 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 is a Canadian-based exploration company specializing in copper and gold. The company focuses on the Lunahuasi copper-gold-silver project in San Juan Province, Argentina, and the Los Helados copper-gold project in Chile’s Region III. NGEx Minerals owns 100% of Lunahuasi and is the majority partner and operator for Los Helados, under a Joint Exploration Agreement with Nippon Caserones Resources LLC.

Average Trading Volume: 377,594

Technical Sentiment Signal: Buy

Current Market Cap: C$4.93B

For an in-depth examination of NGEX stock, go to TipRanks’ Overview page.