Eldorado Gold Corp. Regained Its Shine and Jumped as Much as 10% -- Here's Why
Shares of Eldorado Gold (NYSE: EGO), a junior mining company with assets in Europe and South America, rocketed higher by as much as 10% during Monday's trading session. The reason for the sustained move higher, which began late last week, appears to be derived from the update the company provided on its Greece-based mines last Thursday.
According to Thursday's press release, the Greek Ministry of Energy and Environment issued a press release stating that it intends to have arbitration underway before the end of August. (Arbitration is currently holding up the development of the highly touted Skouries mine in Greece.) Furthermore, the press release states that all permits for Olympias are underway, while Skouries' permits remain unissued.
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Source: Fool.com
Eldorado Gold Corp. Stock
With 24 Buy predictions and 2 Sell predictions Eldorado Gold Corp. is one of the favorites of our community.
With a target price of 17 € there is a slightly positive potential of 9.82% for Eldorado Gold Corp. compared to the current price of 15.48 €.
