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Silver Tiger Metals ( (TSE:SLVR) ) just unveiled an announcement.
Silver Tiger Metals has closed a bought deal equity financing, raising C$57.5 million through the sale of more than 49 million common shares at C$1.17 each. The syndicate was led by Stifel Canada and BMO Capital Markets, with Desjardins Capital Markets and Canaccord Genuity also acting as underwriters and receiving a 5.5% cash commission on the gross proceeds.
The company plans to use the funds to advance exploration and development at its El Tigre Project in Sonora, Mexico, and to bolster working capital and general corporate purposes. The sizeable capital raise strengthens Silver Tiger’s financial position to progress its flagship asset in a key precious metals district, potentially enhancing its growth prospects and standing within the silver-focused mining sector.
The most recent analyst rating on (TSE:SLVR) stock is a Sell with a C$0.85 price target. To see the full list of analyst forecasts on Silver Tiger Metals stock, see the TSE:SLVR Stock Forecast page.
Spark’s Take on TSE:SLVR Stock
According to Spark, TipRanks’ AI Analyst, TSE:SLVR is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow), partially offset by a strong solvency position with minimal debt. Technicals are supportive with an uptrend and balanced momentum, but valuation is constrained because the company is loss-making and has no indicated dividend yield.
To see Spark’s full report on TSE:SLVR stock, click here.
More about Silver Tiger Metals
Silver Tiger Metals Inc. is a Canadian mineral exploration company focused on large hydrothermal silver projects in Mexico. The company owns 100% of the 28,414-hectare historic El Tigre Mining District in Sonora, situated at the northern end of the prolific Sierra Madre silver and gold belt, and emphasizes strong environmental, social and governance practices in its operations.
Average Trading Volume: 2,422,044
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$468.2M
See more data about SLVR stock on TipRanks’ Stock Analysis page.