Stifel Nicolaus Issues Positive Forecast for Eldorado Gold (TSE:ELD) Stock Price

Key Points

• Stifel Nicolaus raised Eldorado Gold’s price target to C$70 from C$65 while maintaining a “buy” rating, implying 17.71% upside from the prior close.
• Analyst sentiment has strengthened, with recent upgrades from CIBC and Jefferies; the stock has an overall “Moderate Buy” consensus and a C$60 average price target.
• Eldorado Gold shares rose 4.8% to C$59.47, while insiders have sold 23,154 shares worth approximately C$1.02 million over the past 90 days.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO had its price objective upped by equities research analysts at Stifel Nicolaus from C$65.00 to C$70.00 in a report released on Thursday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 17.71% from the company's previous close.

Several other analysts have also recently issued reports on the stock. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a report 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. National Bank Financial lifted their price target on 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. ATB Cormark Capital Markets boosted their price objective 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, Canaccord Genuity Group increased their target price on Eldorado Gold from C$45.00 to C$55.00 in a report on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$60.00.

Eldorado Gold Stock Up 4.8%

ELD traded up C$2.74 on Thursday, reaching C$59.47. The company's stock had a trading volume of 393,260 shares, compared to its average volume of 777,566. Eldorado Gold has a 1 year low of C$34.25 and a 1 year high of C$69.46. The business's 50 day moving average is C$52.62 and its 200 day moving average is C$48.89. 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 stock has a market cap of C$15.51 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 56.20 and a beta of 1.69.

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

Insider Activity

In related news, insider Per Niklas Frank sold 9,524 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of C$43.02, for a total value of C$409,722.48. Following the sale, the insider owned 16,777 shares of the company's stock, valued at approximately C$721,746.54. This trade represents a 36.21% decrease in their position. Also, 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. Over the last ninety days, insiders sold 23,154 shares of company stock valued at $1,024,582. 0.58% of the stock is currently owned by 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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