Eldorado Gold (TSE:ELD) Price Target Cut to C$40.00 by Analysts at TD

Key Points

• TD cut Eldorado Gold’s price target from C$45.00 to C$40.00 and kept a "hold" rating, implying roughly a 20.7% downside from the current share price.
• Analyst views are mixed—some firms raised targets (BMO to C$74, Stifel to C$65) while others downgraded—but MarketBeat’s consensus is a Moderate Buy with an average target of C$58.88.
• Shares trade around C$50.47 after reporting C$0.86 EPS, a 28% net margin and C$767.5M in revenue, and insiders have recently both bought and sold shares, leaving insiders with 0.58% ownership.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO had its target price cut by TD from C$45.00 to C$40.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD's price objective would suggest a potential downside of 20.74% from the stock's current price.

ELD has been the subject of several other research reports. Canaccord Genuity Group cut shares of Eldorado Gold from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 20th. Stifel Nicolaus raised their price target on shares of Eldorado Gold from C$48.00 to C$65.00 in a research report on Tuesday, February 10th. Royal Bank Of Canada cut shares of Eldorado Gold from a "moderate buy" rating to a "hold" rating and raised their price target for the company from C$47.00 to C$48.00 in a research report on Tuesday, February 17th. BMO Capital Markets raised their price target on shares of Eldorado Gold from C$59.00 to C$74.00 in a research report on Thursday, January 22nd. Finally, Canadian Imperial Bank of Commerce cut shares of Eldorado Gold from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$58.88.

Eldorado Gold Trading Down 0.9%

Shares of TSE:ELD traded down C$0.47 during mid-day trading on Tuesday, reaching C$50.47. 600,614 shares of the company were exchanged, compared to its average volume of 711,241. The company has a debt-to-equity ratio of 30.34, a current ratio of 1.83 and a quick ratio of 2.28. Eldorado Gold has a 1 year low of C$23.99 and a 1 year high of C$69.46. The firm has a market cap of C$10.00 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 56.20 and a beta of 1.67. The firm's 50-day simple moving average is C$54.13 and its 200 day simple moving average is C$48.65.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last issued its quarterly earnings results on Thursday, February 19th. The company reported C$0.86 EPS for the quarter. Eldorado Gold had a net margin of 28.00% and a return on equity of 12.40%. The company had revenue of C$767.52 million during the quarter. Equities research analysts forecast that Eldorado Gold will post 2.1505174 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christian Milau acquired 3,500 shares of Eldorado Gold stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average cost of C$58.59 per share, for a total transaction of C$205,065.00. Following the acquisition, the insider owned 14,994 shares of the company's stock, valued at C$878,498.46. This trade represents a 30.45% increase in their ownership of the stock. Also, insider Christine Tamiko Ohta sold 5,492 shares of the firm's stock in a transaction on Monday, March 16th. The shares were sold at an average price of C$51.22, for a total transaction of C$281,300.24. Following the completion of the sale, the insider owned 8,427 shares in the company, valued at C$431,630.94. The trade was a 39.46% decrease in their ownership of the stock. 0.58% of the stock is currently owned by company 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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