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Touchstone Exploration ( (TSE:TXP) ) has provided an announcement.
Touchstone Exploration has appointed Bhupendra Kansagra as a non-executive director to its board, effective immediately, following the completion of a private placement with UK-based investor Purebond Limited. Purebond, which now holds 50 million Touchstone shares representing 15.4% of voting rights, exercised its contractual right to nominate a board member, installing Kansagra, a seasoned UK executive with extensive resource-sector and capital-markets experience. The move strengthens the board with both sector expertise and direct representation of a new significant shareholder, underscoring Touchstone’s efforts to bolster governance and strategic capacity as it pursues its growth strategy in Trinidad and seeks to deliver long-term value to shareholders.
The most recent analyst rating on (TSE:TXP) stock is a Hold with a C$0.21 price target. To see the full list of analyst forecasts on Touchstone Exploration stock, see the TSE:TXP Stock Forecast page.
Spark’s Take on TSE:TXP Stock
According to Spark, TipRanks’ AI Analyst, TSE:TXP is a Neutral.
The score is primarily held back by weak financial performance, especially negative free cash flow, low profitability, and declining revenue growth. Technicals provide only limited support due to overbought signals and a longer-term downtrend versus the 200-day average. Valuation is also a modest headwind given the negative P/E and lack of dividend yield.
To see Spark’s full report on TSE:TXP stock, click here.
More about Touchstone Exploration
Touchstone Exploration Inc., listed on the TSX and LSE, is an energy company focused on oil and gas exploration and production, with a current growth strategy centred on developing its asset base in Trinidad. The company targets value creation through expanding its reserves and production profile while attracting international capital to support its long-term development plans.
Average Trading Volume: 543,533
Technical Sentiment Signal: Sell
Current Market Cap: C$68.19M
For detailed information about TXP stock, go to TipRanks’ Stock Analysis page.