Eldorado Gold (TSE:ELD) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity raised Eldorado Gold’s price target from C$55 to C$63, implying roughly 0.4% upside from the reported trading price. The stock carries a consensus “Moderate Buy” rating and an average target of C$61.25.
• Eldorado Gold shares rose to C$62.75 during Tuesday trading, with a market capitalization of approximately C$16.37 billion. The stock has traded between C$34.25 and C$69.46 over the past 52 weeks.
• The company reported quarterly earnings of C$0.77 per share and revenue of C$692.57 million, while insiders have sold 23,154 shares worth about C$1.02 million over the past 90 days.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO had its price objective hoisted by analysts at Canaccord Genuity Group from C$55.00 to C$63.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. Canaccord Genuity Group's price target indicates a potential upside of 0.40% from the company's current price.

A number of other brokerages have also recently issued reports on ELD. ATB Cormark Capital Markets increased their target price on shares of Eldorado Gold from C$45.00 to C$64.00 and gave the company a "sector perform" rating in a report on Thursday, September 10th. Stifel Nicolaus upped their price target on Eldorado Gold from C$65.00 to C$70.00 and gave the stock a "buy" rating in a report on Thursday, September 17th. National Bank Financial raised their price objective on Eldorado Gold from C$65.00 to C$69.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Canadian Imperial Bank of Commerce raised Eldorado Gold from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 9th. Finally, Jefferies Financial Group raised Eldorado Gold to a "strong-buy" rating in a report on Thursday, August 20th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Eldorado Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of C$61.25.

Eldorado Gold Price Performance

TSE:ELD traded up C$3.31 during trading hours on Tuesday, hitting C$62.75. The company's stock had a trading volume of 362,487 shares, compared to its average volume of 781,938. Eldorado Gold has a 52-week low of C$34.25 and a 52-week high of C$69.46. The company has a debt-to-equity ratio of 25.70, a quick ratio of 2.27 and a current ratio of 1.31. The business's 50-day moving average is C$53.66 and its two-hundred day moving average is C$48.85. The company has a market capitalization of C$16.37 billion, a PE ratio of 22.33, a PEG ratio of 56.20 and a beta of 1.69.

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

Insider Buying and Selling at Eldorado Gold

In other news, Director Seda Erdemir sold 1,239 shares of the business's stock in a transaction that occurred 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. Also, insider Mehmet Yilmaz sold 5,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 27,543 shares in the company, valued at approximately C$1,223,460.06. This trade represents a 15.36% decrease in their position. In the last ninety days, insiders have sold 23,154 shares of company stock worth $1,024,582. Corporate insiders own 0.58% of the company's stock.

About Eldorado Gold

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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