Eldorado Gold (TSE:ELD) Price Target Raised to C$63.00 at Canaccord Genuity Group

Eldorado Gold (TSE:ELD) (NYSE:EGO) had its price objective increased by research analysts at Canaccord Genuity Group from C$55.00 to C$63.00 in a note issued to investors on Tuesday, BayStreet reports. Canaccord Genuity Group’s target price suggests a potential upside of 0.40% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, August 9th. National Bank Financial lifted 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. Stifel Nicolaus boosted their target price on Eldorado Gold from C$65.00 to C$70.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. ATB Cormark Capital Markets increased their target price on shares of Eldorado Gold from C$45.00 to C$64.00 and gave the stock a “sector perform” rating in a research report 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, four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Eldorado Gold presently has a consensus rating of “Moderate Buy” and an average target price of C$61.25.

Eldorado Gold Trading Up 5.6%

Shares of ELD stock traded up C$3.31 during trading hours on Tuesday, hitting C$62.75. 362,487 shares of the company were exchanged, compared to its average volume of 781,938. The firm has a fifty day moving average of C$53.66 and a 200 day moving average of C$48.85. 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 1 year low of C$34.25 and a 1 year high of C$69.46. The firm has a market cap of C$16.37 billion, a PE ratio of 22.33, a PEG ratio of 56.20 and a beta of 1.69.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last issued its quarterly earnings results on Thursday, July 30th. The company reported C$0.77 EPS for the quarter. The firm 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 expect that Eldorado Gold will post 2.1505174 earnings per share for the current year.

Insider Activity at Eldorado Gold

In related news, Director Seda Erdemir sold 1,239 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of C$60.37, for a total transaction of C$74,798.43. Also, insider Mehmet Yilmaz sold 5,000 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of C$44.42, for a total transaction of C$222,100.00. Following the sale, the insider owned 27,543 shares in the company, valued at approximately C$1,223,460.06. This trade represents a 15.36% decrease in their position. In the last ninety days, insiders have sold 23,154 shares of company stock valued at $1,024,582. Corporate insiders own 0.58% of the company’s stock.

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).