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Sumitomo Metal Mining Co ( (JP:5713) ) just unveiled an update.
Sumitomo Metal Mining Co., Ltd. has announced a significant capital increase for its subsidiary, SMM PERTH PTY LTD, to facilitate the acquisition of a 30% interest in the Winu copper-gold project in Western Australia, owned by a subsidiary of Rio Tinto plc. This move positions SMM PERTH PTY LTD as a specified subsidiary, reflecting Sumitomo’s strategic focus on expanding its mining operations and enhancing its portfolio in the copper and gold sectors. The financial impact on the company’s current fiscal performance is expected to be minor.
The most recent analyst rating on (JP:5713) stock is a Hold with a Yen4963.00 price target. To see the full list of analyst forecasts on Sumitomo Metal Mining Co stock, see the JP:5713 Stock Forecast page.
More about Sumitomo Metal Mining Co
Sumitomo Metal Mining Co., Ltd. operates in the mining industry, focusing on the extraction and processing of metals. The company is known for its production of copper, gold, and other valuable minerals, and it aims to expand its market presence through strategic investments.
YTD Price Performance: 55.29%
Average Trading Volume: 2,668,546
Technical Sentiment Signal: Buy
Current Market Cap: Yen1497B
For a thorough assessment of 5713 stock, go to TipRanks’ Stock Analysis page.