Canaccord Genuity Group Boosts Eldorado Gold (TSE:ELD) Price Target to C$55.00

Key Points

• Canaccord Genuity raised Eldorado Gold’s price target to C$55 from C$45, implying roughly 2.69% upside from the reported trading price. Analysts collectively rate the stock “Moderate Buy,” with an average target of C$62.50.
• Eldorado Gold shares fell 3.1% to C$53.56 during Thursday trading, while the company reported quarterly EPS of C$0.77, revenue of C$692.57 million, and a 29.89% net margin.
• Insider activity was mixed: insiders bought 1,184 shares worth about C$51,823 over the past three months but sold 21,915 shares valued at approximately C$949,783.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO had its price objective boosted by investment analysts at Canaccord Genuity Group from C$45.00 to C$55.00 in a report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group's target price would suggest a potential upside of 2.69% from the company's current price.

ELD has been the topic of several other research reports. National Bank Financial boosted their target price 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. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a "moderate buy" rating to a "hold" rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research report on Sunday. Stifel Nicolaus upgraded shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Finally, BMO Capital Markets set a C$82.00 target price on shares of Eldorado Gold and gave the company an "outperform" rating in a research report on Wednesday, April 15th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$62.50.

Eldorado Gold Trading Down 3.1%

Shares of ELD stock traded down C$1.73 during trading hours on Thursday, reaching C$53.56. The company had a trading volume of 286,533 shares, compared to its average volume of 759,278. Eldorado Gold has a 1-year low of C$30.29 and a 1-year 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 firm has a market cap of C$13.97 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 56.20 and a beta of 1.43. The company has a 50 day moving average of C$44.94 and a 200 day moving average of C$49.01.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.77 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 firm had revenue of C$692.57 million during the quarter. On average, equities research analysts anticipate that Eldorado Gold will post 2.1505174 EPS for the current year.

Insiders Place Their Bets

In other Eldorado Gold news, insider Per Niklas Frank sold 9,524 shares of the business's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of C$43.02, for a total value of C$409,722.48. Following the completion of the sale, the insider owned 16,777 shares of the company's stock, valued at C$721,746.54. The trade was a 36.21% decrease in their position. Also, Director Daniel Myerson purchased 1,100 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of C$43.71 per share, with a total value of C$48,081.00. Following the completion of the purchase, the director owned 3,941 shares of the company's stock, valued at C$172,261.11. This trade represents a 38.72% increase in their position. Over the last three months, insiders purchased 1,184 shares of company stock worth $51,823 and sold 21,915 shares worth $949,783. Company insiders own 0.58% of the company's stock.

About Eldorado Gold

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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