Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Gold Reserve ( (TSE:GRZ) ) has shared an announcement.
Gold Reserve has filed an appeal with the U.S. Court of Appeals for the Third Circuit challenging the judicially approved sale of shares in PDV Holdings, Inc. to Elliott/Amber Energy, arguing that the winning bid was roughly $2 billion lower than its own and contravenes Delaware law requiring sale to the highest bidder, while also alleging conflicts of interest involving the court-appointed Special Master and advisors. As it presses its legal case and prepares for a possible resumption of activities in Venezuela, the company has reached a settlement with its lending banks over commitment fees related to its PDVH bid, agreeing to pay about $5 million from cash on hand and to fund any additional amounts only from proceeds it may receive if the Elliott transaction ultimately closes, thereby managing short-term obligations while preserving liquidity and banking relationships.
The most recent analyst rating on (TSE:GRZ) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on Gold Reserve stock, see the TSE:GRZ Stock Forecast page.
Spark’s Take on TSE:GRZ Stock
According to Spark, TipRanks’ AI Analyst, TSE:GRZ is a Neutral.
The score is held back primarily by weak financial performance (persistent losses and ongoing cash burn despite low debt). Technicals are supportive due to strong momentum above key moving averages, but the overbought RSI reduces the technical score. Valuation is constrained by the negative P/E and lack of dividend yield data.
To see Spark’s full report on TSE:GRZ stock, click here.
More about Gold Reserve
Gold Reserve Ltd. is a mineral development company focused on gold and copper assets in Venezuela. The company has been involved in long-running legal and financial efforts to recover the value of its expropriated Venezuelan projects and has actively pursued court-mediated avenues and financing arrangements tied to Venezuelan-related assets to support a potential return to operations when conditions allow.
Average Trading Volume: 54,828
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$618.5M
Learn more about GRZ stock on TipRanks’ Stock Analysis page.