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Sierra Metals ( (TSE:SMT) ) has issued an update.
Sierra Metals has announced that the Toronto Stock Exchange (TSX) will defer its decision on the company’s shareholder rights plan adopted in response to a hostile takeover bid by Alpayana S.A.C. The plan remains effective and aims to protect shareholder interests against the unsolicited bid for Sierra’s common shares. The TSX’s deferral is a standard procedure in takeover situations, and the rights plan will stay in effect for at least six months unless terminated earlier.
More about Sierra Metals
Sierra Metals is a Canadian mining company specializing in copper production, with additional base and precious metals by-product credits. The company operates the Yauricocha Mine in Peru and the Bolivar Mine in Mexico. Sierra Metals is focused on increasing production volume and expanding its mineral resources through new discoveries and exploration opportunities near its existing mines. It holds large land packages with several regional targets for long-term exploration and growth potential.
YTD Price Performance: 7.37%
Average Trading Volume: 110,982
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $130M
See more insights into SMT stock on TipRanks’ Stock Analysis page.
