Eldorado Gold Boosts Stake in Amex Exploration

An update from Eldorado Gold ( (TSE:ELD) ) is now available.

Eldorado Gold has acquired 14,868,200 additional shares in Amex Exploration Inc. for C$59,472,800 through a private agreement, raising its ownership stake to approximately 27.27% of Amex’s outstanding common shares. The acquisition, driven by an unsolicited investment opportunity, enhances Eldorado’s position and influence within Amex while reflecting the company’s strategic approach to investments in mining and exploration ventures, offering potential growth and operational synergies for stakeholders.

The most recent analyst rating on (TSE:ELD) stock is a Buy with a C$47.00 price target. To see the full list of analyst forecasts on Eldorado Gold stock, see the TSE:ELD Stock Forecast page.

Spark’s Take on TSE:ELD Stock

According to Spark, TipRanks’ AI Analyst, TSE:ELD is a Outperform.

Eldorado Gold’s strong financial performance and technical indicators are the primary drivers of its high score. The company’s strategic advancements and robust financial health support a positive outlook, despite challenges with increased costs and operational issues at Olympias. The valuation is fair, and the absence of a dividend yield reflects a growth-oriented strategy.

To see Spark’s full report on TSE:ELD stock, click here.

More about Eldorado Gold

Eldorado Gold is a leading producer of gold and base metals with mining, development, and exploration operations in Türkiye, Canada, and Greece. The company is known for its skilled workforce, safe and responsible operations, and high-quality asset portfolio, while maintaining strong partnerships with local communities. Eldorado’s shares are traded on both the Toronto Stock Exchange and the New York Stock Exchange.

Average Trading Volume: 509,371

Technical Sentiment Signal: Buy

Current Market Cap: C$9.53B

For a thorough assessment of ELD stock, go to TipRanks’ Stock Analysis page.