Midland Exploration Partners with Barrick for Lewis Gold Property

Midland Exploration ( (TSE:MD) ) has shared an update.

Midland Exploration Inc. has signed a definitive option agreement with Barrick Mining Corporation for the Lewis gold property in Quebec. Barrick can acquire up to a 75% interest in the property through cash payments and exploration work totaling $12 million by 2032. This partnership positions Midland strategically in the gold exploration industry, potentially enhancing its market presence and offering significant opportunities for growth.

The most recent analyst rating on (TSE:MD) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Midland Exploration stock, see the TSE:MD Stock Forecast page.

Spark’s Take on TSE:MD Stock

According to Spark, TipRanks’ AI Analyst, TSE:MD is a Neutral.

Midland Exploration’s stock score is primarily influenced by its financial performance and technical analysis. The company shows financial stability with low leverage and strong free cash flow growth, but struggles with profitability and operational efficiency. The technical indicators reveal strong bullish momentum, although overbought conditions suggest caution. The valuation is weak due to negative earnings and lack of dividends.

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

More about Midland Exploration

Midland Exploration Inc. focuses on exploring the mineral potential of Quebec to discover new world-class deposits of gold and critical metals. The company collaborates with reputable partners such as Barrick, BHP Canada Inc., and Rio Tinto Exploration Canada Inc., among others, to enhance its portfolio and generate shareholder value.

Average Trading Volume: 67,085

Technical Sentiment Signal: Buy

Current Market Cap: C$47.82M

Find detailed analytics on MD stock on TipRanks’ Stock Analysis page.