Sierra Madre Raises $57.5 Million to Advance Del Toro Silver Mine Acquisition

Sierra Madre Gold & Silver Ltd. ( (TSE:SM) ) has shared an update.

Sierra Madre Gold and Silver Ltd. has closed the second and final tranche of its brokered private placement, raising total gross proceeds of approximately $57.5 million through the issuance of over 44.2 million subscription receipts priced at $1.30 each. The financing, led by Beacon Securities alongside a syndicate of agents, is tied to the company’s planned acquisition of the Del Toro Silver Mine in Mexico, with most of the proceeds held in escrow until regulatory and transactional conditions are met; funds are earmarked to complete the acquisition, advance exploration and development at Del Toro, and support working capital, underscoring Sierra Madre’s strategy to expand its production pipeline and strengthen its position in the Mexican silver mining space.

The most recent analyst rating on (TSE:SM) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Sierra Madre Gold & Silver Ltd. stock, see the TSE:SM Stock Forecast page.

Spark’s Take on TSE:SM Stock

According to Spark, TipRanks’ AI Analyst, TSE:SM is a Neutral.

The score is driven by improving financial performance (turnaround to positive profitability and a relatively solid balance sheet) and strong technical momentum. These positives are materially offset by valuation risk from an extremely high P/E and the remaining weakness in free cash flow.

To see Spark’s full report on TSE:SM stock, click here.

More about Sierra Madre Gold & Silver Ltd.

Sierra Madre Gold and Silver Ltd. is a precious metals development and exploration company focused on advancing gold and silver projects, positioning itself within the mining sector as a growth-oriented player targeting assets in Mexico.

Average Trading Volume: 742,262

Technical Sentiment Signal: Buy

Current Market Cap: C$398.2M

See more data about SM stock on TipRanks’ Stock Analysis page.