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Prime Mining ( (TSE:PRYM) ) has provided an update.
Torex Gold Resources Inc. has announced the acquisition of Prime Mining Corp., which will result in Torex owning the Los Reyes gold-silver project in Mexico. This acquisition enhances Torex’s asset base and growth potential, leveraging its expertise in Mexico to develop Los Reyes. The transaction offers Prime Mining shareholders a premium and increases Torex’s resource base significantly, diversifying its commodity mix with substantial silver exposure.
The most recent analyst rating on (TSE:PRYM) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on Prime Mining stock, see the TSE:PRYM Stock Forecast page.
Spark’s Take on TSE:PRYM Stock
According to Spark, TipRanks’ AI Analyst, TSE:PRYM is a Neutral.
Prime Mining’s overall stock score reflects substantial financial challenges, with consistent losses and no revenue. However, positive corporate events, such as resource expansion and strategic drilling plans, provide potential growth opportunities. The technical analysis suggests neutral momentum, while the valuation highlights risks due to negative earnings and lack of dividends.
To see Spark’s full report on TSE:PRYM stock, click here.
More about Prime Mining
Prime Mining is a company in the precious metals industry, focusing on gold and silver exploration and development. It operates primarily in the Americas, with a significant project, Los Reyes, located in Mexico.
YTD Price Performance: 47.62%
Average Trading Volume: 333,663
Technical Sentiment Signal: Buy
Current Market Cap: C$362.3M
For a thorough assessment of PRYM stock, go to TipRanks’ Stock Analysis page.