450% implied return according to Analyst 450% Implied Return
Given the news, Newman reported that Research Capital reiterated its Speculative Buy rating on the Canadian gold mining company.
The financial services firm, however, lowered its target price on Omineca to CA$0.55 per share from CA$0.75, to account for dilution resulting from its recently completed financing. In comparison, Omineca is currently trading at about CA$0.10 per share.
Despite the drop in target price, the projected return for investors remains material at 450%.