Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
An announcement from Oroco Resource ( (TSE:OCO) ) is now available.
Oroco Resource Corp. has closed an upsized bought deal public offering led by Canaccord Genuity, raising approximately C$23 million through the issuance of over 60.5 million units at C$0.38 per unit, each unit comprising one share and half a warrant. The financing, which included full exercise of the over-allotment option and will see the warrants list on the TSX Venture Exchange under ticker OCO.WT, strengthens Oroco’s balance sheet and is earmarked to fund pre-feasibility drilling at its Santo Tomás copper project in Mexico, advance environmental and permitting work, and provide general working capital, thereby supporting the advancement of a key copper asset in a strategic mining district.
The most recent analyst rating on (TSE:OCO) stock is a Hold with a C$0.66 price target. To see the full list of analyst forecasts on Oroco Resource stock, see the TSE:OCO Stock Forecast page.
Spark’s Take on TSE:OCO Stock
According to Spark, TipRanks’ AI Analyst, TSE:OCO is a Neutral.
The score is primarily held back by weak financial performance (no revenue, ongoing losses, and cash burn) despite strong solvency. Technicals are supportive with strong momentum, but overbought signals temper the outlook. Valuation is constrained by the lack of profitability and no dividend support.
To see Spark’s full report on TSE:OCO stock, click here.
More about Oroco Resource
Oroco Resource Corp. is a mineral exploration company focused on the Santo Tomás copper project in northwestern Mexico, where it holds a net 87% interest in the 1,173-hectare core concessions and an 80% interest in additional surrounding concessions. The project lies within the Santo Tomas District, near the Jinchuan Group’s Bahuerachi Project, positioning Oroco within an established copper-producing region and giving it significant exposure to large-scale copper resource development.
Average Trading Volume: 566,884
Technical Sentiment Signal: Buy
Current Market Cap: C$165.1M
For an in-depth examination of OCO stock, go to TipRanks’ Overview page.