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Zentek ( (TSE:ZEN) ) has issued an update.
Zentek Ltd. has received a notice of reassessment from the Canada Revenue Agency (CRA) concerning its 2019 financial year, related to its flow-through financings. The CRA has reclassified approximately $199,000 of Canadian exploration expenses, resulting in a tax assessment of $22,481.89. Zentek is required to indemnify subscribers affected by the reassessment, with a maximum liability of $427,000. This reassessment may impact Zentek’s financial obligations and its relationship with investors involved in the flow-through financings.
The most recent analyst rating on (TSE:ZEN) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Zentek stock, see the TSE:ZEN Stock Forecast page.
Spark’s Take on TSE:ZEN Stock
According to Spark, TipRanks’ AI Analyst, TSE:ZEN is a Neutral.
Zentek’s overall stock score is primarily impacted by its poor financial performance, characterized by negative profit margins and cash flow challenges. Technical analysis indicates bearish trends, with the stock trading below key moving averages and showing weak momentum. The valuation is unattractive due to a negative P/E ratio and lack of dividends. These factors collectively result in a low overall stock score.
To see Spark’s full report on TSE:ZEN stock, click here.
More about Zentek
Zentek Ltd. is an ISO 13485:2016 certified intellectual property technology company focused on the research, development, and commercialization of novel products. The company aims to provide its commercial partners with a competitive edge by enhancing product safety, efficiency, and environmental friendliness. Zentek’s patented ZenGUARD™ technology improves viral filtration in surgical masks and HVAC systems. Additionally, Zentek holds a global exclusive license for an Aptamer-based platform technology developed with McMaster University for diagnostic and therapeutic markets.
Average Trading Volume: 54,341
Technical Sentiment Signal: Sell
Current Market Cap: C$112.7M
See more data about ZEN stock on TipRanks’ Stock Analysis page.