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NGEx Minerals ( (TSE:NGEX) ) just unveiled an update.
NGEx Minerals Ltd. announced significant drill results from its Lunahuasi project in Argentina, highlighting high-grade copper equivalent intersections. These results underscore the project’s potential and will aid in developing a geological model for future exploration phases. The company is preparing for Phase 4 of its exploration program, set to begin in October, to build on the current success and further delineate the mineralization boundaries.
The most recent analyst rating on (TSE:NGEX) stock is a Buy with a C$14.00 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 high-grade copper, gold, and silver projects. The company is primarily engaged in advancing its Lunahuasi project in San Juan, Argentina, which is 100% owned by NGEx Minerals.
Average Trading Volume: 260,798
Technical Sentiment Signal: Buy
Current Market Cap: C$3.11B
See more insights into NGEX stock on TipRanks’ Stock Analysis page.