Chilwa Minerals Limited’s (NASDAQ:CHWM) Quiet Period To Expire Tomorrow

Chilwa Minerals’ (NASDAQ:CHWM) quiet period is set to 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 the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the end 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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CHWM shares. Maxim Group started coverage on Chilwa Minerals in a report on Wednesday, October 21st. They set a “buy” rating and a $11.00 target price for the company. Wall Street Zen upgraded shares of Chilwa Minerals to a “hold” rating in a research note on Saturday, October 10th. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Chilwa Minerals currently has a consensus rating of “Buy” and a consensus target price of $11.00.

Chilwa Minerals Stock Performance

Shares of CHWM opened at $3.63 on Monday. Chilwa Minerals has a 12 month low of $3.60 and a 12 month high of $7.08.

Chilwa Minerals Company Profile

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.