Eldorado Gold Co. (TSE:ELD) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts give Eldorado Gold a consensus “Buy” rating: Of 10 covering firms, four rate the stock a strong buy, two a buy, and four a hold. The average 12-month price target is C$62.50.
• Several brokerages recently upgraded the company, including Jefferies, Stifel Nicolaus, and CIBC, while Canaccord Genuity and National Bank Financial raised their price targets to C$55 and C$69, respectively.
• Eldorado Gold reported quarterly earnings of C$0.77 per share on revenue of C$692.57 million. Shares opened at C$60.51, up 1.6%, while recent insider activity was weighted toward selling.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO has been given a consensus rating of "Buy" by the ten research firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$62.50.

ELD has been the topic of a number of recent research reports. Jefferies Financial Group raised Eldorado Gold to a "strong-buy" rating in a research report on Thursday, August 20th. Stifel Nicolaus raised Eldorado Gold from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Canaccord Genuity Group boosted their price objective on Eldorado Gold from C$45.00 to C$55.00 in a research note on Thursday, August 13th. National Bank Financial increased their target price on shares of Eldorado Gold from C$65.00 to C$69.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 9th.

Eldorado Gold Trading Up 1.6%

Shares of ELD stock opened at C$60.51 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 1.31 and a debt-to-equity ratio of 25.70. The firm has a market cap of C$15.78 billion, a P/E ratio of 21.53, a PEG ratio of 56.20 and a beta of 1.69. The company has a 50 day moving average of C$51.12 and a 200-day moving average of C$49.00. Eldorado Gold has a 12-month low of C$34.25 and a 12-month high of C$69.46.

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

Insiders Place Their Bets

In other news, insider Mehmet Yilmaz sold 5,000 shares of Eldorado Gold stock in a transaction on Friday, June 26th. The stock was sold at an average price of C$44.42, for a total value of C$222,100.00. Following the completion of the transaction, the insider directly owned 27,543 shares in the company, valued at approximately C$1,223,460.06. The trade was a 15.36% decrease in their ownership of the stock. Also, insider Per Niklas Frank sold 9,524 shares of the business's stock in a transaction on 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 sale, the insider owned 16,777 shares in the company, valued at approximately C$721,746.54. The trade was a 36.21% decrease in their ownership of the stock. In the last three months, insiders have acquired 75 shares of company stock worth $3,347 and have sold 21,915 shares worth $949,783. 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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