Post by
templetooth2 on Jan 26, 2021 7:21pm
Relentless Selling Explained
Some analyst at "Berenberg Bank" slashed the price target from $56 to $53. Quelle horreur!
In my opinion, I think the price decline is more likely related to Teranga people cashing out, either selling TGZ or shorting EDV. It's only normal that some sizeable number of Teranga people won't have the same emotional attachment to Endeavour. They've made a ton and are looking for newer greener pastures.
By the way, Ronnie111, I think you overlooked the soon-to-be-issued shares to take over TGZ when you calculated EDV's market cap. Just rough numbers, but 168 mm TGZ shares X .47 = 79 mm new shares of EDV plus 163 million will bring the new share count to 242 million. At $26 per share, that means EDV will have a market cap of Cdn $6.29 B , just about identical to Yamana's market cap.