Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Silver One Resources ( (TSE:SVE) ) just unveiled an announcement.
Silver One Resources has closed the first tranche of its previously announced non-brokered private placement, raising approximately $31.1 million through the issuance of over 53.5 million units at $0.58 per unit, with a final tranche expected to bring the total financing to about $32 million. The financing, which saw prominent resource investor Eric Sprott increase his stake to roughly 16% on a non-diluted basis, will fund aggressive exploration and drilling at the Candelaria Project and other properties, metallurgical and environmental studies, preparation of a pre-feasibility study at Candelaria, required mineral claim payments and general working capital, bolstering Silver One’s ability to advance its key silver assets and potentially enhancing its position in the silver exploration sector.
The most recent analyst rating on (TSE:SVE) stock is a Hold with a C$0.76 price target. To see the full list of analyst forecasts on Silver One Resources stock, see the TSE:SVE Stock Forecast page.
Spark’s Take on TSE:SVE Stock
According to Spark, TipRanks’ AI Analyst, TSE:SVE is a Neutral.
The score is held back primarily by weak financial performance (no revenue, recurring losses, and persistent cash burn requiring funding). Technicals are supportive with strong momentum above key moving averages, but overbought/extended signals add risk. Valuation is constrained by negative earnings (negative P/E) and no indicated dividend yield.
To see Spark’s full report on TSE:SVE stock, click here.
More about Silver One Resources
Silver One Resources is a Vancouver-based mining company focused on the exploration and development of silver projects. Its core assets include the Candelaria Project and other mineral properties where it conducts drilling, geophysics, metallurgical and environmental work, with a strategy centered on advancing silver-focused assets in North America.
Average Trading Volume: 580,795
Technical Sentiment Signal: Buy
Current Market Cap: C$247M
See more data about SVE stock on TipRanks’ Stock Analysis page.