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PyroGenesis Canada ( (TSE:PYR) ) has issued an announcement.
PyroGenesis Inc. has issued a 90-day notice to end its exclusivity arrangement and cancel its master agreement with EarthGrid covering tunneling-related projects, a relationship that began with a US$500,000 non-refundable down payment and was intended to support EarthGrid’s efforts to secure financing and complete an initial statement of work. The company said that, in light of recent developments, releasing both parties from the agreement is the preferred path forward, and once the 90-day period expires PyroGenesis will be free to pursue tunneling-related opportunities with other potential clients, potentially broadening its addressable market in this specialized application of its plasma-based technologies.
The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.32 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, which heavily impact its overall score. The earnings call provides some positive insights with a strong backlog and strategic initiatives, but these are offset by declining revenues and profitability. Technical analysis shows mixed signals, and the valuation is unattractive due to negative earnings. These factors collectively result in a low overall stock score.
To see Spark’s full report on TSE:PYR stock, click here.
More about PyroGenesis Canada
PyroGenesis Inc. is a Montreal-based leader in ultra-high temperature plasma processes and advanced engineering solutions serving heavy industry and defense. The company develops plasma-based technologies for energy, propulsion, waste destruction, process heating, emissions reduction and materials development, and supplies global customers in aluminum, aerospace, steel, iron ore, utilities, environmental services, military and government markets. Its operations are ISO 9001:2015 and AS9100D certified, and its shares trade on the TSX, OTCQX and Frankfurt exchanges.
Average Trading Volume: 276,767
Technical Sentiment Signal: Sell
Current Market Cap: C$68.72M
See more data about PYR stock on TipRanks’ Stock Analysis page.