Eldorado Gold (TSE:ELD) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Eldorado Gold (TSE:ELD) (NYSE:EGO) from a hold rating to a buy rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have C$57.00 price target on the stock, down from their prior price target of C$63.00.

Other equities analysts also recently issued research reports about the company. National Bank Financial upped their price objective 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. Bank of America raised Eldorado Gold from an “underperform” rating to a “buy” rating and raised their target price for the stock from C$32.00 to C$54.00 in a research report on Tuesday, September 22nd. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 9th. ATB Cormark Capital Markets boosted their target price on Eldorado Gold from C$45.00 to C$64.00 and gave the company a “sector perform” rating in a research note on Thursday, September 10th. Finally, Jefferies Financial Group raised Eldorado Gold to a “strong-buy” rating in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$60.50.

Eldorado Gold Stock Performance

Shares of ELD stock opened at C$44.32 on Friday. The firm has a market cap of C$11.56 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 56.20 and a beta of 1.68. The company has a debt-to-equity ratio of 25.70, a quick ratio of 2.27 and a current ratio of 1.31. Eldorado Gold has a 52 week low of C$34.25 and a 52 week high of C$69.46. The firm’s 50-day simple moving average is C$56.91 and its two-hundred day simple moving average is C$49.41.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last released its 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 firm had revenue of C$692.57 million during the quarter. As a group, equities analysts forecast that Eldorado Gold will post 2.15 earnings per share for the current year.

Insider Activity

In related news, Director Seda Erdemir sold 1,239 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$60.37, for a total transaction of C$74,798.43. 0.58% of the stock is currently owned by company insiders.

Eldorado Gold Company Profile

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).