Eldorado Gold (TSE:ELD) Rating Lowered to "Hold" at ATB Cormark Capital Markets

Key Points

• ATB Cormark downgraded Eldorado Gold from "moderate buy" to "hold," while several other brokers adjusted ratings and targets; the Street consensus remains a Moderate Buy with a C$63.50 price target.
• The stock opened at C$39.15 and was trading down 3.4%, well below its 50- and 200-day SMAs (~C$50) and the consensus target, with a market cap of C$10.2 billion and a PE of about 14.
• Eldorado reported Q results of C$0.95 EPS on C$740.2M revenue (net margin 28.7%), and insider activity included a sale by Christine Ohta and a purchase by Christian Milau; insiders collectively own 0.58% of the stock.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO was downgraded by analysts at ATB Cormark Capital Markets from a "moderate buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Bank of America increased their target price on shares of Eldorado Gold from C$46.25 to C$52.00 in a research report on Thursday, February 26th. Royal Bank Of Canada downgraded shares of Eldorado Gold from a "moderate buy" rating to a "hold" rating and increased their target price for the stock from C$47.00 to C$48.00 in a research report on Tuesday, February 17th. National Bank Financial increased their target price on shares of Eldorado Gold from C$63.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 15th. Canaccord Genuity Group downgraded shares of Eldorado Gold from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 20th. Finally, Stifel Nicolaus increased their target price on shares of Eldorado Gold from C$48.00 to C$65.00 in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$63.50.

Eldorado Gold Trading Down 3.4%

TSE ELD opened at C$39.15 on Monday. Eldorado Gold has a 1-year low of C$23.99 and a 1-year high of C$69.46. The company has a current ratio of 1.62, a quick ratio of 2.28 and a debt-to-equity ratio of 28.81. The company has a market capitalization of C$10.20 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 56.20 and a beta of 1.67. The firm's fifty day simple moving average is C$50.26 and its 200-day simple moving average is C$49.06.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last posted its quarterly earnings results on Thursday, April 30th. The company reported C$0.95 earnings per share for the quarter. Eldorado Gold had a net margin of 28.71% and a return on equity of 13.69%. The business had revenue of C$740.23 million for the quarter. As a group, sell-side analysts anticipate that Eldorado Gold will post 2.1505174 earnings per share for the current fiscal year.

Insider Transactions at Eldorado Gold

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