Chilwa Minerals’ (NASDAQ:CHWM – Get Free Report) quiet period will end on Tuesday, November 10th. Chilwa Minerals had issued 625,000 shares in its public offering on October 1st. The total size of the offering was $3,500,000 based on an initial share price of $5.60. During Chilwa Minerals’ quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Wall Street Analysts Forecast Growth
A number of analysts have commented on CHWM shares. Maxim Group began coverage on Chilwa Minerals in a report on Wednesday, October 21st. They set a “buy” rating and a $11.00 price objective for the company. Wall Street Zen raised shares of Chilwa Minerals to a “hold” rating in a report on Saturday, October 10th. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $11.00.
Get Our Latest Analysis on Chilwa Minerals
Chilwa Minerals Price Performance
Shares of NASDAQ CHWM opened at $3.63 on Friday. Chilwa Minerals has a 1 year low of $3.60 and a 1 year high of $7.08.
About Chilwa Minerals
Chilwa Minerals Limited is an Australia-based mineral exploration and development company focused on mineral sands and rare earth opportunities in Malawi. The company is primarily advancing the Lake Chilwa project, a prospective mineral sands project located in southern Malawi.
The Lake Chilwa project is being explored for heavy mineral sands and associated critical minerals, including monazite, ilmenite, rutile and zircon. These minerals can be used in applications such as rare earth element production, pigments, ceramics and advanced industrial materials.
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