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The latest announcement is out from Oroco Resource ( (TSE:OCO) ).
Oroco Resource Corp. has upsized its previously announced bought deal financing to raise approximately C$20 million, issuing 52,631,600 units at C$0.38 each, with each unit comprising one common share and half a warrant exercisable at C$0.53 for 36 months. The underwriters also hold a 15% over-allotment option that could lift total gross proceeds to about C$23 million, with the funds earmarked to start Pre-Feasibility Study drilling at the Santo Tomás copper project, advance environmental baseline and permitting work, and bolster general working capital, underscoring strong investor demand and providing capital to advance one of the company’s key copper assets in Mexico.
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 mineral exploration and development company focused on the Santo Tomás copper project in northwestern Mexico. The company holds an effective 85.5% interest in 1,173 hectares of core concessions and an 80% interest in an additional 7,861 hectares of surrounding mineral concessions, giving it control over a 9,034-hectare copper porphyry project with extensive historical and recent drilling, updated resource estimates and a preliminary economic assessment, and access to nearby transport, power and gas infrastructure.
Average Trading Volume: 212,461
Technical Sentiment Signal: Hold
Current Market Cap: C$118.1M
See more data about OCO stock on TipRanks’ Stock Analysis page.