New Strong Buy Stocks for July 2nd
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 02 2025
0mins
Source: NASDAQ.COM
Zacks Rank #1 Stocks: Five stocks have been added to the Zacks Rank #1 (Strong Buy) List, including Eldorado Gold Corporation, Mitsubishi Corporation, Societe Generale, Seven & i Holdings, and The Estee Lauder Companies, all of which have seen positive earnings estimates over the last 60 days.
Top Stock Recommendation: A little-known satellite-based communications firm is highlighted as a top pick by Zacks, with analysts predicting significant revenue growth in the coming years, particularly as the space industry is expected to expand into a trillion-dollar market.
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Analyst Views on EGO
Wall Street analysts forecast EGO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for EGO is 37.08 USD with a low forecast of 29.00 USD and a high forecast of 47.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
4 Buy
2 Hold
1 Sell
Moderate Buy
Current: 39.020
Low
29.00
Averages
37.08
High
47.00
Current: 39.020
Low
29.00
Averages
37.08
High
47.00
About EGO
Eldorado Gold Corporation is a Canada-based gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece. The Company operates four mines: Kisladag, Efemcukuru, Lamaque, and Olympias. The Kisladag, Efemcukuru and Lamaque mines are gold mines, while Olympias is a polymetallic operation producing three concentrates bearing gold, lead-silver and zinc. Kisladag is a low-grade, bulk-tonnage, open-pit operation that uses heap leaching for gold recovery. It is located in Usak Province in western Turkiye. Efemcukuru is a high-grade, underground operation located in Izmir Province in western Turkiye. The Lamaque Complex is located in Val-d'Or, Quebec. It includes the Triangle mine, the Ormaque mine, the Parallel deposit, the Plug #4 deposit, and the Sigma Mill. Olympias is a gold-silver-lead-zinc mine located in the Halkidiki Peninsula in northern Greece. It also operates the Bruell Gold Project 51 claim property in Vauquelin township, Quebec.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Shareholder Structure Changes: Under the deal terms, Foran shareholders will receive 0.1128 common shares of Eldorado for each Foran share held, resulting in existing Eldorado shareholders owning about 76% of the combined company, while Foran shareholders will hold the remaining 24%.
- Future Production Expectations: The combined company is projected to produce around 900,000 gold equivalent ounces by 2027, primarily supported by two fully financed development projects—Skouries in Greece and McIlvenna Bay in Saskatchewan—expected to reach commercial production by mid-2026.
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See More
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- Combined Company Structure: Post-transaction, Eldorado shareholders will own about 76% of the combined entity, while Foran shareholders will hold the remaining 24%, with the merged company expected to have a balanced exposure of approximately 77% gold, 15% copper, and 8% other metals across Canada, Greece, and Türkiye.
- Project Development Outlook: The combined company will benefit from two fully financed development projects, Skouries and McIlvenna Bay, projected to commence commercial production by mid-2026, with an expected output of around 900,000 gold-equivalent ounces in 2027, capitalizing on strong metal prices and rising demand for critical minerals.
- Strategic Growth Plans: Eldorado aims to accelerate high-value organic growth by developing Foran’s high-grade polymetallic Tesla zone and unlocking exploration potential around existing assets, with CEO George Burns emphasizing that this merger creates a stronger gold and copper growth company defined by near-term cash flow generation and multiple catalysts.
See More
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- Transaction Overview: Eldorado Gold has entered into an agreement to acquire Foran Mining for 0.1128 Eldorado shares and $0.01 in cash per Foran share, valuing the deal at approximately C$3.8 billion, with completion expected in Q2 2026, thereby enhancing Eldorado's market position in the gold and copper sectors.
- Financial Outlook: The combined entity is projected to generate approximately $2.1 billion in EBITDA and $1.5 billion in free cash flow in 2027, which will fund future growth initiatives, enhance shareholder returns, and maintain financial flexibility through commodity cycles.
- Diversified Asset Base: The merger will create a portfolio with approximately 77% gold, 15% copper, and 8% other metals across attractive mining jurisdictions in Canada, Greece, and Türkiye, providing jurisdictional and commodity diversification that strengthens risk resilience.
- Sustainability Commitment: Eldorado and Foran share strong alignment on sustainability principles, and the combined company will focus on transparent sustainability performance and GHG emissions mitigation, ensuring enhanced business resilience and social responsibility for decades to come.
See More
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See More
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- Strategic Shift: China's export restrictions on silver, tungsten, and antimony signal a major strategic shift in global procurement, prompting the U.S. government to mobilize over $30 billion to secure critical mineral supply chains, thereby elevating defense priorities significantly.
- Resource Development Plan: RUA GOLD Inc. has initiated an aggressive development plan with four drill rigs at the Reefton Goldfield in New Zealand, planning to submit a fast-track referral application in Q1 2026, which, if approved, would enter the fastest six-month permitting window globally, significantly accelerating project timelines.
- High-Grade Discovery: Drilling at the Auld Creek target revealed a significant intersection of 3.0 meters at 21.27 g/t AuEq, extending the deposit strike length to 870 meters, indicating substantial mineral potential in the area that could attract further investment.
- M&A Trends: The 2026 mining M&A landscape focuses on consolidation and supply chain security, with Eldorado Gold's merger with Foran Mining expected to generate approximately $2.1 billion in EBITDA annually, further solidifying its leadership position in the gold-copper sector.
See More
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Eldorado Gold Acquires Foran Mining for C$3.8B, Expanding Copper Exposure
- Acquisition Overview: Eldorado Gold (EGO) has agreed to acquire Foran Mining (FMCXF) for approximately C$3.8 billion (US$2.8 billion), significantly increasing its investment in copper and enhancing its competitive position in the market.
- Shareholder Structure Changes: Under the deal terms, Foran shareholders will receive 0.1128 common shares of Eldorado for each Foran share held, resulting in existing Eldorado shareholders owning about 76% of the combined company, while Foran shareholders will hold the remaining 24%.
- Future Production Expectations: The combined company is projected to produce around 900,000 gold equivalent ounces by 2027, primarily supported by two fully financed development projects—Skouries in Greece and McIlvenna Bay in Saskatchewan—expected to reach commercial production by mid-2026.
- Financial Outlook: Eldorado anticipates generating approximately $2.1 billion in EBITDA and $1.5 billion in free cash flow by 2027, with CEO George Burns stating that this merger creates a stronger gold and copper growth company characterized by near-term cash flow generation and multiple catalysts.
See More
Eldorado Gold to Acquire Foran Mining for CAD 3.8 Billion
- Acquisition Overview: Eldorado Gold Corporation has agreed to acquire Foran Mining Corporation in a deal valued at approximately CAD 3.8 billion (around USD 2.8 billion), with Foran shareholders receiving 0.1128 Eldorado common shares plus one cent in cash per share, representing an 8% premium to the 20-day volume-weighted average price.
- Combined Company Structure: Post-transaction, Eldorado shareholders will own about 76% of the combined entity, while Foran shareholders will hold the remaining 24%, with the merged company expected to have a balanced exposure of approximately 77% gold, 15% copper, and 8% other metals across Canada, Greece, and Türkiye.
- Project Development Outlook: The combined company will benefit from two fully financed development projects, Skouries and McIlvenna Bay, projected to commence commercial production by mid-2026, with an expected output of around 900,000 gold-equivalent ounces in 2027, capitalizing on strong metal prices and rising demand for critical minerals.
- Strategic Growth Plans: Eldorado aims to accelerate high-value organic growth by developing Foran’s high-grade polymetallic Tesla zone and unlocking exploration potential around existing assets, with CEO George Burns emphasizing that this merger creates a stronger gold and copper growth company defined by near-term cash flow generation and multiple catalysts.
See More
Eldorado Acquires Foran Mining to Enhance Growth Profile
- Transaction Overview: Eldorado Gold has entered into an agreement to acquire Foran Mining for 0.1128 Eldorado shares and $0.01 in cash per Foran share, valuing the deal at approximately C$3.8 billion, with completion expected in Q2 2026, thereby enhancing Eldorado's market position in the gold and copper sectors.
- Financial Outlook: The combined entity is projected to generate approximately $2.1 billion in EBITDA and $1.5 billion in free cash flow in 2027, which will fund future growth initiatives, enhance shareholder returns, and maintain financial flexibility through commodity cycles.
- Diversified Asset Base: The merger will create a portfolio with approximately 77% gold, 15% copper, and 8% other metals across attractive mining jurisdictions in Canada, Greece, and Türkiye, providing jurisdictional and commodity diversification that strengthens risk resilience.
- Sustainability Commitment: Eldorado and Foran share strong alignment on sustainability principles, and the combined company will focus on transparent sustainability performance and GHG emissions mitigation, ensuring enhanced business resilience and social responsibility for decades to come.
See More
Gold Prices Soar to New Heights, Exceeding $5,300 an Ounce Before FOMC Meeting
Market Surge: Spot gold prices have surged above $5,300, setting new records in the market.
FOMC Meeting Anticipation: The increase in gold prices comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
See More
