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BMO Resumes Coverage of Eldorado Gold with Outperform Rating, C$82.00 Price Target

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BMO Capital Markets on Wednesday resumed coverage of Eldorado Gold (ELD.TO,EGO) with an outperform rating and a lowered priced target of C$82.00 after the company closed its acquisition of Foran Mining.

The transaction adds the McIlvenna Bay project in Saskatchewan to Eldorado's portfolio, diversifying both jurisdictional and commodity exposure while providing a clear pathway for Eldorado to produce about one-million gold-equivalent ounces by 2030, BMO said.

"We believe this transaction could also increase free cash flow generation, particularly if commodity prices remain elevated," BMO said.

Price: $48.23, Change: $-1.80, Percent Change: -3.60%

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