Canadian Imperial Bank of Commerce Upgrades Eldorado Gold (TSE:ELD) to “Strong-Buy”

Eldorado Gold (TSE:ELD) (NYSE:EGO) was upgraded by stock analysts at Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note issued on Sunday,Zacks.com reports.

Several other research analysts have also issued reports on ELD. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. National Bank Financial boosted their price target on Eldorado Gold from C$65.00 to C$69.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. TD lowered their price objective on shares of Eldorado Gold from C$45.00 to C$40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. 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. Finally, ATB Cormark Capital Markets cut shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold presently has an average rating of “Moderate Buy” and an average price target of C$63.38.

Eldorado Gold Stock Up 3.2%

Shares of ELD stock opened at C$54.54 on Friday. 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 stock has a market cap of C$14.22 billion, a P/E ratio of 19.41, a PEG ratio of 56.20 and a beta of 1.43. Eldorado Gold has a 52 week low of C$29.70 and a 52 week high of C$69.46. The company’s fifty day simple moving average is C$44.54 and its two-hundred day simple moving average is C$49.11.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.77 EPS for the quarter. The business had revenue of C$692.57 million during the quarter. Eldorado Gold had a net margin of 29.89% and a return on equity of 12.38%. Analysts predict that Eldorado Gold will post 2.1505174 EPS for the current fiscal year.

Insider Activity

In other Eldorado Gold news, insider Per Niklas Frank sold 9,524 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of C$43.02, for a total transaction of C$409,722.48. Following the transaction, the insider owned 16,777 shares in the company, valued at approximately C$721,746.54. This represents a 36.21% decrease in their ownership of the stock. Also, insider Mehmet Yilmaz sold 5,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of C$44.42, for a total value of C$222,100.00. Following the transaction, the insider owned 27,543 shares in the company, valued at C$1,223,460.06. This trade represents a 15.36% decrease in their position. In the last ninety days, insiders have acquired 1,184 shares of company stock worth $51,823 and have sold 21,915 shares worth $949,783. 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.