Eldorado Gold (TSE:ELD) Stock Rating Lowered by Canaccord Genuity Group

Key Points

• Canaccord Genuity downgraded Eldorado Gold from “buy” to “hold” and cut its price target from C$57 to C$47, implying 11.11% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$58.88, despite differing recommendations from other research firms.
• Eldorado Gold shares fell C$2.94 to C$42.30 during Friday trading. The company recently reported C$0.70 in quarterly EPS and C$728.69 million in revenue.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO was downgraded by equities research analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday, BayStreet reports. They presently have a C$47.00 price target on the stock, down from their prior price target of C$57.00. Canaccord Genuity Group's price target suggests a potential upside of 11.11% from the stock's previous close.

Several other research firms have also recently weighed in on ELD. 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. Bank of America upgraded shares of Eldorado Gold from an "underperform" rating to a "buy" rating and boosted their price objective for the stock from C$32.00 to C$54.00 in a research report on Tuesday, September 22nd. Stifel Nicolaus upped their price objective 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. ATB Cormark Capital Markets raised their price target on 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. Finally, National Bank Financial upped their target price on shares of Eldorado Gold from C$65.00 to C$69.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$58.88.

Eldorado Gold Price Performance

Shares of ELD traded down C$2.94 during trading hours on Friday, hitting C$42.30. The stock had a trading volume of 765,186 shares, compared to its average volume of 792,970. The stock has a market capitalization of C$11.03 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 56.20 and a beta of 1.68. Eldorado Gold has a 52 week low of C$34.50 and a 52 week high of C$69.46. The company has a debt-to-equity ratio of 25.70, a current ratio of 1.31 and a quick ratio of 2.27. The company's fifty day moving average is C$56.09 and its two-hundred day moving average is C$51.26.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last posted its 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 company had revenue of C$728.69 million during the quarter. On average, analysts anticipate that Eldorado Gold will post 2.15 EPS for the current year.

Insider Activity at Eldorado Gold

In related news, Director Seda Erdemir sold 1,239 shares of Eldorado Gold 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 transaction of C$74,798.43. 0.58% of the stock is currently owned by company 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.

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