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The latest update is out from PyroGenesis Canada ( (TSE:PYR) ).
PyroGenesis Inc. has signed a contract with a leading battery recycler to test the use of plasma technology in the recovery of critical minerals from end-of-life lithium-ion batteries. This initiative aims to replace fossil fuel heating with plasma, supporting the client’s goal of achieving all-electric operations and a sustainable supply chain. The project highlights the growing demand for effective recycling strategies as the volume of end-of-life batteries is expected to rise significantly. By leveraging its plasma technology, PyroGenesis seeks to play a crucial role in the future of battery recycling, helping reduce reliance on new mining activities and improving efficiency for stakeholders.
The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.33 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.
PyroGenesis Canada faces significant financial challenges, including declining revenues and high leverage, which are the most impactful factors on its stock score. Technical indicators suggest bearish momentum, and the valuation is unattractive due to ongoing losses. Despite a strong backlog and project completions, these positives are overshadowed by the company’s financial instability.
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. With over 34 years of experience, the company offers advanced engineering solutions for energy, propulsion, destruction, process heating, emissions, and materials development challenges. PyroGenesis serves global leaders in industries such as aluminum, aerospace, steel, and environmental services from its headquarters in Montreal.
Average Trading Volume: 257,905
Technical Sentiment Signal: Sell
Current Market Cap: C$47.41M
For a thorough assessment of PYR stock, go to TipRanks’ Stock Analysis page.