Canaccord Genuity Group Boosts Eldorado Gold (TSE:ELD) Price Target to C$42.00

Key Points

• Canaccord Genuity Group raised the price target for Eldorado Gold from C$30.00 to C$42.00, indicating a potential upside of 3.91% based on the stock's previous close.
• Other firms, including Bank of America, have also increased their price objectives, with a consensus rating of "Strong Buy" and an average target price of C$33.75.
• Insider sales have occurred recently, with one insider selling 6,153 shares at an average price of C$33.43, reflecting a significant decrease in their holdings.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO had its price objective boosted by equities researchers at Canaccord Genuity Group from C$30.00 to C$42.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group's target price indicates a potential upside of 3.91% from the stock's previous close.

A number of other research firms have also weighed in on ELD. Bank of America increased their price objective on Eldorado Gold from C$28.50 to C$33.50 in a research note on Friday, August 29th. National Bankshares lifted their target price on shares of Eldorado Gold from C$38.00 to C$41.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and a consensus target price of C$33.75.

Eldorado Gold Price Performance

TSE:ELD traded down C$0.65 during mid-day trading on Thursday, hitting C$40.42. 219,680 shares of the stock traded hands, compared to its average volume of 397,613. The company has a quick ratio of 2.28, a current ratio of 3.37 and a debt-to-equity ratio of 23.28. Eldorado Gold has a 12-month low of C$18.94 and a 12-month high of C$41.70. The company has a market cap of C$8.21 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 56.20 and a beta of 0.82. The business's 50-day moving average price is C$34.11 and its 200 day moving average price is C$29.18.

Insider Transactions at Eldorado Gold

In other Eldorado Gold news, insider Ryan Swedburg sold 6,153 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of C$33.43, for a total transaction of C$205,694.79. Following the completion of the transaction, the insider directly owned 2,617 shares in the company, valued at approximately C$87,486.31. This trade represents a 70.16% decrease in their position. Also, insider Lynette Gould sold 3,330 shares of Eldorado Gold stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of C$34.94, for a total value of C$116,360.86. Following the sale, the insider owned 2,635 shares of the company's stock, valued at approximately C$92,075.33. This represents a 55.83% decrease in their position. Insiders sold 20,091 shares of company stock worth $679,773 over the last 90 days. 0.58% of the stock is currently owned by insiders.

Eldorado Gold Company Profile

Eldorado Gold Corp is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece and Romania. It has a portfolio of high-quality assets and long-term partnerships with local communities. Some of its projects include Kisladag, Efemcukuru, Skouries; Perama Hill and Certej projects.

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