TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Queen’s Road Capital Investment ( (TSE:QRC) ) just unveiled an announcement.
Queen’s Road Capital Investment Ltd. has announced the continuation of its normal course issuer bid (NCIB) for another 12 months, allowing the company to repurchase up to 1,760,000 common shares, approximately 3.45% of its outstanding shares. This move is intended to address potential undervaluation in the market price of its shares, with purchases depending on favorable market conditions. The continuation of the NCIB reflects the company’s ongoing strategy to manage its share capital effectively, potentially benefiting shareholders by enhancing the value of remaining shares.
The most recent analyst rating on (TSE:QRC) stock is a Hold with a C$7.50 price target. To see the full list of analyst forecasts on Queen’s Road Capital Investment stock, see the TSE:QRC Stock Forecast page.
Spark’s Take on TSE:QRC Stock
According to Spark, TipRanks’ AI Analyst, TSE:QRC is a Neutral.
The overall stock score is primarily influenced by the company’s strong balance sheet and positive technical indicators. However, profitability issues and a negative P/E ratio weigh down the score. The dividend yield offers some compensation for the risks.
To see Spark’s full report on TSE:QRC stock, click here.
More about Queen’s Road Capital Investment
Queen’s Road Capital Investment Ltd. is a dividend-paying financier in the global resource sector, focusing on investments in both privately held and publicly traded companies. The company specializes in acquiring securities for long-term capital appreciation, particularly convertible debt securities and resource projects in advanced development or production within politically stable jurisdictions.
Average Trading Volume: 14,164
Technical Sentiment Signal: Buy
Current Market Cap: C$443.9M
For detailed information about QRC stock, go to TipRanks’ Stock Analysis page.