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Probe Gold ( (TSE:PRB) ) has provided an announcement.
Fresnillo plc has completed its acquisition of Probe Gold Inc. through its wholly owned affiliate, Fresnillo Quebec Acquisition Inc., buying all outstanding Probe shares for C$3.65 in cash per share following shareholder approval earlier in January. As a result of the transaction, Probe’s shares are expected to be delisted from the Toronto Stock Exchange and the company plans to cease being a reporting issuer in Canada, effectively taking the Québec-focused gold explorer private under Fresnillo’s ownership and consolidating its significant land package and projects into the larger parent group’s portfolio.
The most recent analyst rating on (TSE:PRB) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Probe Gold stock, see the TSE:PRB Stock Forecast page.
Spark’s Take on TSE:PRB Stock
According to Spark, TipRanks’ AI Analyst, TSE:PRB is a Neutral.
The score is driven primarily by weak financial performance (no revenue, ongoing losses, and increased TTM cash burn) tempered by a strong balance sheet. Technicals are moderately supportive (uptrend with positive MACD and neutral RSI). The major positive offset is the announced acquisition/arrangement, which adds meaningful value certainty and liquidity, while valuation is difficult to support given negative earnings.
To see Spark’s full report on TSE:PRB stock, click here.
More about Probe Gold
Probe Gold Inc. is a Canadian gold exploration company that owns the multimillion-ounce Novador Gold Project in Val-d’Or, Québec, and the early-stage Detour Gold Quebec project. Its assets span approximately 1,798 square kilometres of exploration ground in some of Québec’s most prolific gold belts, positioning the company as a significant player in the regional gold exploration sector.
Average Trading Volume: 921,746
Technical Sentiment Signal: Buy
Current Market Cap: C$742.6M
See more data about PRB stock on TipRanks’ Stock Analysis page.