Adriatic Metals May Attract More Bid Interest -- Market Talk

Dow Jones
2025/06/06

0034 GMT - Dundee Precious Metals may not be the only party interested in Adriatic Metals, says Canaccord Genuity. Adriatic recently confirmed it's in talks with Dundee about a potential takeover bid. That led to Adriatic's share price rising some 40%. Canaccord says Dundee has always looked like a potential bidder for Adriatic given similarities between their European assets. "However, we suspect other parties may also be interested in Adriatic's high-grade, low-cost operation," analyst Paul Howard says. Canaccord lifts its price target for Adriatic by 21% to A$5.50/share. That values its equity at US$1.25 billion. Adriatic is unchanged today at A$5.28. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

June 05, 2025 20:34 ET (00:34 GMT)

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