Claim 70% 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
Oroco Resource ( (TSE:OCO) ) has shared an update.
Oroco Resource Corp. has launched a C$15 million bought deal financing led by Canaccord Genuity, issuing 39.47 million units at C$0.38 each, with each unit consisting of one common share and half a warrant exercisable at C$0.53 for three years; an over-allotment option could lift total gross proceeds to approximately C$17.25 million. The capital raise is intended to fund the start of Pre-Feasibility Study drilling at the company’s Santo Tomás copper project in Mexico, advance baseline environmental and permitting work, and support general working capital, marking a key step in moving the large copper porphyry asset further along the development pipeline and potentially strengthening Oroco’s position in the copper exploration and development space.
The most recent analyst rating on (TSE:OCO) stock is a Hold with a C$0.47 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 constrained by weak financial performance (no revenue, ongoing losses, and negative free cash flow) despite a solid balance sheet with minimal leverage. Technicals are supportive (uptrend with positive MACD) but appear overextended (high RSI/Stoch), while valuation is pressured by losses and the absence of dividend support.
To see Spark’s full report on TSE:OCO stock, click here.
More about Oroco Resource
Oroco Resource Corp. is a Vancouver-based mineral exploration company focused on advancing the Santo Tomás copper project in northwestern Mexico. The company holds a net 85.5% interest in the core 1,173-hectare concessions and an 80% interest in an additional 7,861 hectares of surrounding mineral concessions, targeting large-scale copper porphyry mineralization supported by extensive historical and recent drilling and economic studies. The project benefits from proximity to deep-water port infrastructure, highway, rail, power, and natural gas corridors, positioning Oroco to develop a sizable copper asset in a well-serviced mining district.
Average Trading Volume: 212,461
Technical Sentiment Signal: Hold
Current Market Cap: C$118.1M
For an in-depth examination of OCO stock, go to TipRanks’ Overview page.