Eldorado Gold (EGO) Positioned for Foran Mining Acquisition

Eldorado Gold Corp. (NYSE:EGO) is one of the 8 best mid-cap growth stocks to invest in.

On March 25, Eldorado Gold Corp. (NYSE:EGO) disclosed that Institutional Shareholder Services had recommended that the company’s shareholders support the proposed agreement between Eldorado Gold Corporation and Foran Mining Corporation.

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Eldorado Gold Corp. (NYSE:EGO) will acquire all the outstanding common shares of Foran Mining Corporation as per the contract. In return, shareholders will be compensated with 0.1128 shares of Eldorado and one Canadian cent in cash for each share of the corporation. The deal was unanimously accepted by the board of directors of Eldorado Gold Corporation, as reported by their Chief Executive Officer, George Burns.

Back on February 25, Scotiabank decreased the price target on Eldorado Gold Corporation (NYSE:EGO) from $59 to $58 while reiterating an Outperform rating. According to the firm, this downward revision is based on updated financial models for the broader Gold & Precious Minerals market.

The firm noted that the company has been able to successfully launch the Skouries site while also delivering the Olympias expansion. Additionally, for the second quarter, the company successfully advanced the Perama Hill asset and is about to close its Foran transaction too.

Eldorado Gold Corp. (NYSE:EGO) is mainly involved in mining, researching, developing, and selling various mineral products. Its portfolio is concentrated on gold along with silver, lead, and zinc. The company owns all the mines it operates across its key regions, which include Turkey, Greece, and Canada.

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