Chilwa Minerals’ (NASDAQ:CHWM – Get Free Report) quiet period is set to expire 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, underwriters and any insiders involved in 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 end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on CHWM. Wall Street Zen raised shares of Chilwa Minerals to a “hold” rating in a research report on Saturday, October 10th. Maxim Group assumed coverage on shares of Chilwa Minerals in a research report on Wednesday, October 21st. They issued a “buy” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.00.
Read Our Latest Research Report on CHWM
Chilwa Minerals Stock Performance
Shares of CHWM stock opened at $4.09 on Thursday. Chilwa Minerals has a 52 week low of $3.86 and a 52 week 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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