National Bank Financial Forecasts Strong Price Appreciation for Eldorado Gold (TSE:ELD) Stock

Eldorado Gold (TSE:ELD) (NYSE:EGO) had its price target hoisted by research analysts at National Bank Financial from C$65.00 to C$69.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price would indicate a potential upside of 36.44% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on ELD. TD cut their price target on Eldorado Gold from C$45.00 to C$40.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. ATB Cormark Capital Markets lowered Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, BMO Capital Markets set a C$82.00 price target on Eldorado Gold and gave the company an “outperform” rating in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$63.38.

Eldorado Gold Stock Performance

ELD stock traded up C$5.84 during mid-day trading on Wednesday, reaching C$50.57. The company had a trading volume of 549,878 shares, compared to its average volume of 752,879. Eldorado Gold has a one year low of C$29.70 and a one year high of C$69.46. The stock has a market capitalization of C$13.19 billion, a P/E ratio of 18.00, a P/E/G ratio of 56.20 and a beta of 1.41. 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’s 50-day simple moving average is C$44.01 and its two-hundred day simple moving average is C$49.26.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.77 EPS 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. Research analysts anticipate that Eldorado Gold will post 2.1505174 EPS for the current year.

Insider Activity

In other news, insider Sylvain Lehoux sold 5,899 shares of Eldorado Gold stock in a transaction on Thursday, May 7th. The stock was sold at an average price of C$44.89, for a total transaction of C$264,806.11. Also, insider Per Niklas Frank sold 9,524 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of C$43.02, for a total value of C$409,722.48. Following the completion of the sale, the insider directly owned 16,777 shares in the company, valued at C$721,746.54. This represents a 36.21% decrease in their position. In the last quarter, insiders purchased 23,116 shares of company stock worth $1,091,022 and sold 27,814 shares worth $1,214,589. Company insiders own 0.58% of the company’s stock.

About Eldorado Gold

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.