NGEx Minerals Secures C$175 Million in Oversubscribed Private Placement

NGEx Minerals ( (TSE:NGEX) ) has issued an update.

NGEx Minerals Ltd. has successfully closed a C$175 million private placement, which was oversubscribed due to strong investor interest, including participation from institutional investors and the Lundin Family Trusts. The funds will be used to further exploration at the Lunahuasi project in Argentina, support the Los Helados project in Chile, and for general corporate purposes. Additionally, NGEx is proceeding with a spin-out of net smelter returns royalties on its projects into a new subsidiary, LunR Royalties Corp., with the arrangement expected to complete in the fourth quarter of 2025.

The most recent analyst rating on (TSE:NGEX) stock is a Hold with a C$27.00 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. is a company operating in the mining industry, focusing on mineral exploration and development. Its primary projects include the Lunahuasi project in Argentina and the Los Helados project in Chile, with a market focus on expanding and advancing these projects.

Average Trading Volume: 301,075

Technical Sentiment Signal: Buy

Current Market Cap: C$5.14B

For detailed information about NGEX stock, go to TipRanks’ Stock Analysis page.