Globe says Eldorado Gold cut to "speculative buy" "speculative buy",, I would rether own Integra shares on their own !
Globe says Eldorado Gold cut to "speculative buy"
2017-06-16 06:00 ET - In the News
The Globe and Mail reports in its Friday edition that Canaccord analyst Tony Lesiak predicts Eldorado Gold will be able to successfully revise the environment impact statement governing its high-grade gold-copper deposit in the Halkidiki Peninsula of northern Greece.
The Globe's David Leeder writes in the Eye On Equities column that Mr. Lesiak, however, says the current Syriza government remains "adversarial," leading to "elevated near-term headline risk." Accordingly, he downgraded the company's stock to "speculative buy" from "buy." On June 8 in a statement posted on the website of the country's Ministry of Energy and Environment, minister Giorgos Stathakis requested steps be taken toward beginning arbitration proceedings over the company's development project. Eldorado responded by saying it has yet to receive formal notification of proceeding. Mr. Lesiak says in a note: "Project economics and potential margins remain robust. ... Unfortunately, rather than embracing the significant investment by ELD, the current Syriza government have continually challenged (and lost) the validity of ELD's permits." Mr. Lesiak kept a share target of $6 for Eldorado. Analysts on average target the shares at $6.08.