ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Eldorado Gold (TSE:ELD) Stock

Key Points

• ATB Cormark raised Eldorado Gold’s price target from C$45 to C$64 while maintaining a “sector perform” rating, implying 8.13% potential upside.
• Analyst sentiment is broadly positive: Eldorado has an average “Buy” rating and a consensus price target of C$59.38, with four analysts rating it a Strong Buy.
• Eldorado reported C$0.77 in quarterly earnings per share on C$692.57 million in revenue, while shares recently traded at C$59.19, up significantly from their 52-week low of C$34.25.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO had its price target raised by ATB Cormark Capital Markets from C$45.00 to C$64.00 in a note issued to investors on Thursday, BayStreet reports. The firm presently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective points to a potential upside of 8.13% from the stock's current price.

Several other equities research analysts have also issued reports on ELD. Canaccord Genuity Group boosted their price target on shares of Eldorado Gold from C$45.00 to C$55.00 in a report on Thursday, August 13th. Stifel Nicolaus upgraded shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 9th. Jefferies Financial Group raised shares of Eldorado Gold to a "strong-buy" rating in a research report on Thursday, August 20th. Finally, National Bank Financial raised their price target on shares of Eldorado Gold from C$65.00 to C$69.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Eldorado Gold currently has an average rating of "Buy" and an average price target of C$59.38.

Eldorado Gold Stock Performance

Shares of ELD traded down C$2.30 during trading hours on Thursday, reaching C$59.19. 182,249 shares of the company traded hands, compared to its average volume of 776,601. The stock's fifty day moving average is C$51.46 and its 200 day moving average is C$48.97. The stock has a market cap of C$15.44 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 56.20 and a beta of 1.69. The company has a debt-to-equity ratio of 25.70, a quick ratio of 2.27 and a current ratio of 1.31. Eldorado Gold has a 1-year low of C$34.25 and a 1-year high of C$69.46.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last released its earnings results on Thursday, July 30th. The company reported C$0.77 earnings per share for the quarter. Eldorado Gold had a return on equity of 12.38% and a net margin of 29.89%.The business had revenue of C$692.57 million for the quarter. Equities research analysts anticipate that Eldorado Gold will post 2.1505174 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eldorado Gold news, insider Mehmet Yilmaz sold 5,000 shares of the company's stock in a transaction on Friday, June 26th. The stock was sold at an average price of C$44.42, for a total transaction of C$222,100.00. Following the transaction, the insider owned 27,543 shares of the company's stock, valued at approximately C$1,223,460.06. This represents a 15.36% decrease in their position. Also, Director Seda Erdemir sold 1,239 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of C$60.37, for a total value of C$74,798.43. In the last quarter, insiders purchased 75 shares of company stock worth $3,347 and sold 23,154 shares worth $1,024,582. 0.58% of the stock is currently owned by corporate insiders.

Eldorado Gold Company Profile

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange TSX: ELD and the New York Stock Exchange NYSE: EGO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.