Eldorado Gold Stock Slumping Despite Integra Gold Acquisition

Shares of Eldorado Gold (EGO) were falling by 8.61% to $3.35 on Monday morning, despite the gold exploration, development and mining company announcing that it will acquire the remaining shares of Integra Gold Corp., which will expand its mining opportunities in Canada's Eastern Abitibi region.

The deal is valued at about C$590 million.

"From previous experience of building and operating gold mines in Canada, I am excited about Eldorado's entry into the Eastern Abitibi region of Canada. With our current balance sheet strength post the sale of our Chinese assets, this acquisition represents a use of the proceeds complementing our existing portfolio of high quality, low cost assets," Eldorado CEO George Burns said.

Over on Real Money Jim Cramer give advice to investors looking at how to play the Trump Trade. Get his insights or analysis with a free trial subscription to Real Money.

More from Stocks

Federal Reserve, Oracle, T-Mobile, Les Moonves and J&J - 5 Things You Must Know

Federal Reserve, Oracle, T-Mobile, Les Moonves and J&J - 5 Things You Must Know

Real Money Post Industrial Average Continues to Outperform Dow and S&P 500

Real Money Post Industrial Average Continues to Outperform Dow and S&P 500

Jim Cramer: Oracle Is Yet Another Victim of This Traitorous Market

Jim Cramer: Oracle Is Yet Another Victim of This Traitorous Market

U.S. Stocks Set for Tuesday Rebound; Fed Hike Tested by Lower Bond Yields

U.S. Stocks Set for Tuesday Rebound; Fed Hike Tested by Lower Bond Yields

The Longest Bull Market: History and Facts in 2018

The Longest Bull Market: History and Facts in 2018