Eldorado Gold (TSE:ELD) Price Target Raised to C$69.00

Key Points

• National Bank Financial raised Eldorado Gold’s price target to C$69 from C$65 and maintained an “outperform” rating, implying 36.44% upside from the reported share price.
• Eldorado Gold shares rose 13.1% to C$50.57, giving the company a market capitalization of approximately C$13.19 billion. Analysts collectively hold a “Moderate Buy” consensus rating with an average target of C$63.38.
• The company reported quarterly earnings of C$0.77 per share and revenue of C$692.57 million, while recent insider activity included both purchases and sales, with insiders owning 0.58% of the stock.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO had its price objective lifted by analysts at National Bank Financial from C$65.00 to C$69.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price would indicate a potential upside of 36.44% from the company's current price.

Other analysts also recently issued reports about the company. Stifel Nicolaus upgraded Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. ATB Cormark Capital Markets downgraded Eldorado Gold from a "moderate buy" rating to a "hold" rating in a report on Monday, May 4th. TD dropped their price objective on Eldorado Gold from C$45.00 to C$40.00 and set a "hold" rating on the stock in a report on Tuesday, April 14th. Finally, BMO Capital Markets set a C$82.00 target price on Eldorado Gold and gave the company an "outperform" rating in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$63.38.

Eldorado Gold Stock Up 13.1%

Shares of TSE ELD traded up C$5.84 during trading on Wednesday, reaching C$50.57. 549,878 shares of the stock were exchanged, compared to its average volume of 752,879. The company has a market capitalization of C$13.19 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 56.20 and a beta of 1.41. The business's 50-day moving average price is C$44.01 and its 200 day moving average price is C$49.26. The company has a quick ratio of 2.27, a current ratio of 1.31 and a debt-to-equity ratio of 25.70. Eldorado Gold has a twelve month low of C$29.70 and a twelve month high of C$69.46.

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

Insider Buying and Selling

In other news, insider Mehmet Yilmaz sold 5,000 shares of the business's stock in a transaction that occurred 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 sale, 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 position. Also, Director Daniel Myerson purchased 1,100 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of C$43.71 per share, for a total transaction of C$48,081.00. Following the completion of the transaction, the director owned 3,941 shares in the company, valued at approximately C$172,261.11. This represents a 38.72% increase in their position. In the last quarter, insiders have acquired 23,116 shares of company stock worth $1,091,022 and have sold 27,814 shares worth $1,214,589. Insiders own 0.58% of the company's stock.

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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