Soma Gold’s Colombian Subsidiary Achieves Carbon Neutrality, Leading Environmental Initiatives

Soma Gold ( (TSE:SOMA) ) just unveiled an announcement.

Soma Gold’s Colombian subsidiary, Operadora Minera SAS, has achieved carbon neutrality for the 2023 reporting period, becoming the first mining company in Colombia to do so under the PAS 2060:2014 standard. This achievement, verified by Bureau Veritas, involved significant reductions in greenhouse gas emissions, a transition to renewable energy, and the use of carbon credits. Additionally, Operadora has signed a voluntary agreement with CORANTIOQUIA to promote environmental regeneration in areas affected by illegal mining, reflecting Soma’s commitment to responsible mining and environmental stewardship.

Spark’s Take on TSE:SOMA Stock

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

Soma Gold faces key challenges with profitability and high leverage despite strong revenue growth and operational efficiencies. Technical indicators point towards a bearish trend, and the current valuation metrics highlight risks due to a negative P/E ratio and lack of dividends. Although corporate actions like stock options indicate internal confidence, the overall outlook remains cautious, focusing on improvements in financial health.

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

More about Soma Gold

Soma Gold Corp. is a mining company focused on gold production and exploration, operating two adjacent mining properties in Antioquia, Colombia. The company is committed to sustainability and community engagement, using internally generated funds for regional exploration and owning an exploration property in Brazil under option to Ero Copper Corp.

Average Trading Volume: 109,992

Technical Sentiment Signal: Hold

Current Market Cap: C$84.75M

Find detailed analytics on SOMA stock on TipRanks’ Stock Analysis page.