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
SolGold ( (GB:SOLG) ) has provided an update.
Jiangxi Copper (Hong Kong) Investment Company Limited, on behalf of Jiangxi Copper Company Limited, has agreed terms for a recommended all-cash acquisition of SolGold, offering 28 pence per share and valuing the company at about £867 million. The bid represents substantial premiums to SolGold’s recent and longer-term trading prices, and has the unanimous support of SolGold’s board, which plans to recommend shareholders back the scheme of arrangement. As SolGold’s largest shareholder with a 12.2% stake and deep familiarity with the Cascabel project, Jiangxi Copper aims to leverage its technical, financial and supply chain capabilities to progress Cascabel into production, potentially providing greater development certainty and capital support than SolGold could secure independently, a move welcomed by key shareholders including BHP and Newcrest.
The most recent analyst rating on (GB:SOLG) stock is a Buy with a £46.00 price target. To see the full list of analyst forecasts on SolGold stock, see the GB:SOLG Stock Forecast page.
Spark’s Take on GB:SOLG Stock
According to Spark, TipRanks’ AI Analyst, GB:SOLG is a Neutral.
SolGold’s financial challenges, marked by persistent losses and negative cash flows, heavily impact its score. Corporate events offer some optimism with strategic investments and governance improvements, but valuation remains poor.
To see Spark’s full report on GB:SOLG stock, click here.
More about SolGold
SolGold plc is a UK-listed mineral exploration and development company focused on large-scale copper and gold projects, most notably the Cascabel copper-gold project in Ecuador. The company targets globally significant deposits that can supply long-term demand for key minerals, positioning itself within the global copper supply chain and attracting strategic investors from the mining industry.
Average Trading Volume: 12,545,372
Technical Sentiment Signal: Buy
Current Market Cap: £785.2M
Find detailed analytics on SOLG stock on TipRanks’ Stock Analysis page.