Eurasia Mining stock jumps 33% as sanctions on Russia spare it: here is where to buy it

The price of Eurasia Mining stock has jumped by a whopping 33.72% today after it was spared by the new sanctions against Russia for invading Ukraine.

There were fears that the operations of the company that mainly operates in Russia would be hampered by the ongoing confrontations between Russia and Ukraine but it has been confirmed that the company shall not be affected by the new sanctions.

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To help stock investors interested in investing in Eurasia Mining stock, Invezz has created a brief article on what it is and where to buy it.

To find out more, please continue reading.

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What is Eurasia Mining stock?

Eurasia Mining stock is the stock of Eurasia Mining Plc and it trades on the London Stock Exchange under the ticker LON: EUA.

Eurasia Mining Plc is a UK-based mining and mineral exploration company. It engages in the exploration, development, and production of palladium, platinum, rhodium, iridium, copper, nickel, gold, and other minerals primarily. It was incorporated in 1995 and its headquarters are in London.

Eurasia Mining mainly conducts its mining operations in Russia with its main mines being the Monchetundra project located on the Kola Peninsula in Russia and the West Kytlim mine located in the Central Urals.

Should I buy EUA stock today?

If you are looking to invest in a stock of a mining company, then the EUA stock could be a good choice.

However, you must be cognizant of the current geopolitical situation between Russia and Ukraine that seems to be heading to a serious confrontation and it could affect the operations of the Eurasia Mining mines thus impacting the company’s earnings and share prices.

EUA stock price prediction

Despite the volatile geopolitical situation in Eastern Europe, analysts believe the demand for Palladium and other rare earth metals that Eurasia Mining mines is on the rise especially due to the increased production of electric vehicles that require these rare earth metals to manufacture chips.

As a result, if the situation between Russia and Ukraine is maintained and a full-blown war is avoided, the price of the EUA stock is expected to rally above £30 by end of the first quarter of 2022.