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The latest update is out from PyroGenesis Canada ( (TSE:PYR) ).
PyroGenesis Inc. has secured a $1.2 million contract with a European cement industry customer to supply a plasma torch system for a calcination furnace. This initiative is part of the company’s strategy to expand into high-temperature industrial processes and supports the cement industry’s goals to reduce greenhouse gas emissions. By replacing fossil fuel-based heating with plasma torches, PyroGenesis aims to drive significant decarbonization and efficiency improvements in cement production, which is responsible for a substantial portion of global emissions.
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 driven by significant financial challenges, including declining revenues, high leverage, and negative cash flows. Technical analysis also indicates weak market momentum. While recent corporate events show positive strategic developments, they are insufficient to counterbalance the financial and technical weaknesses.
To see Spark’s full report on TSE:PYR stock, click here.
More about PyroGenesis Canada
PyroGenesis Inc. is a high-tech company specializing in the design, development, manufacture, and commercialization of advanced plasma processes and sustainable solutions. These solutions aim to reduce greenhouse gases and offer economically attractive alternatives to traditional processes. The company is involved in four major markets: iron ore pelletization, aluminum, waste management, and additive manufacturing.
Average Trading Volume: 120,348
Technical Sentiment Signal: Sell
Current Market Cap: C$57.2M
Find detailed analytics on PYR stock on TipRanks’ Stock Analysis page.