ATB Cormark Capital Markets Has Lowered Expectations for Eldorado Gold (TSE:ELD) Stock Price

Key Points

• ATB Cormark cut Eldorado Gold’s price target from C$64 to C$61 while maintaining a “sector perform” rating, implying approximately 44% upside from the reported C$42.30 share price.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average target of C$58.88, with recent targets ranging from C$47 to C$70.
• Eldorado Gold reported C$0.70 in quarterly EPS and C$728.69 million in revenue, while its shares fell C$2.94 during Friday trading and remained below their 50-day and 200-day moving averages.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO had its price objective cut by ATB Cormark Capital Markets from C$64.00 to C$61.00 in a report issued on Friday, BayStreet reports. The firm currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets's price objective points to a potential upside of 44.21% from the stock's current price.

ELD has been the topic of a number of other research reports. National Bank Financial upped their price target on Eldorado Gold from C$65.00 to C$69.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Stifel Nicolaus boosted their target price on Eldorado Gold from C$65.00 to C$70.00 and gave the stock a "buy" rating in a research report on Thursday, September 17th. Canaccord Genuity Group cut Eldorado Gold from a "buy" rating to a "hold" rating and dropped their price target for the company from C$57.00 to C$47.00 in a research report on Friday. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research report on Sunday, August 9th. Finally, Bank of America upgraded shares of Eldorado Gold from an "underperform" rating to a "buy" rating and lifted their target price for the stock from C$32.00 to C$54.00 in a research report on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$58.88.

Eldorado Gold Price Performance

Shares of TSE ELD traded down C$2.94 during trading on Friday, hitting C$42.30. 765,186 shares of the company were exchanged, compared to its average volume of 792,970. The company has a debt-to-equity ratio of 25.70, a current ratio of 1.31 and a quick ratio of 2.27. Eldorado Gold has a 1 year low of C$34.50 and a 1 year high of C$69.46. The company has a market cap of C$11.03 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 56.20 and a beta of 1.68. The firm's fifty day moving average price is C$56.09 and its 200 day moving average price is C$51.26.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last announced its quarterly earnings results on Wednesday, October 28th. The company reported C$0.70 earnings per share (EPS) for the quarter. Eldorado Gold had a net margin of 29.89% and a return on equity of 12.38%. The business had revenue of C$728.69 million during the quarter. On average, sell-side analysts expect that Eldorado Gold will post 2.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Eldorado Gold

In related news, Director Seda Erdemir sold 1,239 shares of Eldorado Gold stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of C$60.37, for a total value of C$74,798.43. Company insiders own 0.58% of the company's stock.

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.

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