Eldorado Gold (TSE:ELD) Stock Lifted to Buy by Canaccord Genuity Group

Eldorado Gold (TSE:ELD) (NYSE:EGO) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Friday, BayStreet reports. The brokerage presently has a C$57.00 price objective on the stock, down from their previous price objective of C$63.00. Canaccord Genuity Group‘s price objective would suggest a potential upside of 27.03% from the company’s current price.

Other analysts have also issued research reports about the stock. ATB Cormark Capital Markets lifted 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 report on Thursday, September 10th. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 9th. Bank of America upgraded Eldorado Gold from an “underperform” rating to a “buy” rating and raised their price target for the stock from C$32.00 to C$54.00 in a research report on Tuesday, September 22nd. Jefferies Financial Group upgraded Eldorado Gold to a “strong-buy” rating in a research report on Thursday, August 20th. Finally, Stifel Nicolaus lifted their price objective on Eldorado Gold from C$65.00 to C$70.00 and gave the stock a “buy” rating in a research note on Thursday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$60.50.

Eldorado Gold Trading Down 2.7%

Shares of TSE:ELD traded down C$1.24 during trading on Friday, hitting C$44.87. 458,837 shares of the company’s stock were exchanged, compared to its average volume of 780,649. Eldorado Gold has a 1-year low of C$34.25 and a 1-year high of C$69.46. The firm has a 50-day moving average price of C$57.12 and a two-hundred day moving average price of C$49.45. The company has a current ratio of 1.31, a quick ratio of 2.27 and a debt-to-equity ratio of 25.70. The firm has a market cap of C$11.70 billion, a P/E ratio of 15.97, a PEG ratio of 56.20 and a beta of 1.68.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last posted 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. Equities analysts predict that Eldorado Gold will post 2.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Seda Erdemir sold 1,239 shares of Eldorado Gold stock in a transaction 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. Company insiders own 0.58% of the company’s stock.

About Eldorado Gold

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).