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An announcement from PyroGenesis Canada ( (TSE:PYR) ) is now available.
PyroGenesis Canada has successfully closed its non-brokered private placement, raising a total of $5,226,083 through the sale of 14,185,969 units. The funds will be used for working capital and general corporate purposes, with the placement receiving conditional approval from the TSX. This move is expected to bolster PyroGenesis’ financial position, supporting its ongoing operations and strategic initiatives in the heavy industry and defense sectors.
The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.
Spark’s Take on TSE:PYR Stock
According to Spark, TipRanks’ AI Analyst, TSE:PYR is a Neutral.
The overall stock score is primarily impacted by poor financial performance, characterized by declining revenues, significant losses, and a highly leveraged balance sheet. Technical analysis indicates a bearish trend, and valuation metrics are unattractive due to ongoing losses. While the earnings call highlighted some positive developments, they are insufficient to offset the broader financial challenges.
To see Spark’s full report on TSE:PYR stock, click here.
More about PyroGenesis Canada
PyroGenesis Inc. is a leader in ultra-high temperature processes and engineering innovation, providing plasma-based technology solutions to heavy industry and defense sectors. The company serves global leaders in industries such as aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. Headquartered in Montreal, PyroGenesis focuses on energy transition and ultra-high temperature technology, maintaining ISO certifications since 1997.
Average Trading Volume: 231,271
Technical Sentiment Signal: Sell
Current Market Cap: C$34.83M
For an in-depth examination of PYR stock, go to TipRanks’ Overview page.