Canaccord Genuity Group Forecasts Strong Price Appreciation for Eldorado Gold (TSE:ELD) Stock

Eldorado Gold (TSE:ELD) (NYSE:EGO) had its price target upped by Canaccord Genuity Group from C$45.00 to C$55.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s target price indicates a potential upside of 2.69% from the company’s current price.

Other research analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. National Bank Financial boosted their target price on shares of Eldorado Gold from C$65.00 to C$69.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Finally, BMO Capital Markets set a C$82.00 price target on Eldorado Gold and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Eldorado Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of C$62.50.

Eldorado Gold Price Performance

ELD traded down C$1.73 on Thursday, reaching C$53.56. The stock had a trading volume of 286,533 shares, compared to its average volume of 759,278. Eldorado Gold has a fifty-two week low of C$30.29 and a fifty-two week high of C$69.46. The firm has a 50-day moving average of C$44.94 and a 200-day moving average of C$49.01. 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 company has a market capitalization of C$13.97 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 56.20 and a beta of 1.43.

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. Eldorado Gold had a net margin of 29.89% and a return on equity of 12.38%. The company had revenue of C$692.57 million for the quarter. As a group, sell-side analysts anticipate that Eldorado Gold will post 2.1505174 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel Myerson purchased 1,100 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of C$43.71 per share, with a total value of C$48,081.00. Following the completion of the purchase, the director owned 3,941 shares in the company, valued at approximately C$172,261.11. This trade represents a 38.72% increase in their position. Also, insider Per Niklas Frank sold 9,524 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were 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 C$721,746.54. This represents a 36.21% decrease in their position. Over the last ninety days, insiders have purchased 1,184 shares of company stock valued at $51,823 and have sold 21,915 shares valued at $949,783. 0.58% of the stock is owned by insiders.

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.