Eldorado Gold (TSE:ELD) Upgraded at Bank of America

Bank of America upgraded shares of Eldorado Gold (TSE:ELD) (NYSE:EGO) from an underperform rating to a buy rating in a research report released on Tuesday morning,BayStreet reports. Bank of America currently has C$54.00 price objective on the stock, up from their previous price objective of C$32.00.

A number of other analysts have also weighed in on the company. Jefferies Financial Group raised Eldorado Gold to a “strong-buy” rating in a research report on Thursday, August 20th. Stifel Nicolaus lifted their target price on Eldorado Gold from C$65.00 to C$70.00 and gave the company a “buy” rating in a report on Thursday, September 17th. National Bank Financial boosted their target price on Eldorado Gold from C$65.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. 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. Finally, ATB Cormark Capital Markets upped their price target on 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. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Eldorado Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$61.25.

Eldorado Gold Price Performance

Shares of ELD opened at C$59.54 on Tuesday. Eldorado Gold has a fifty-two week low of C$34.25 and a fifty-two week high of C$69.46. The firm’s 50 day moving average price is C$54.88 and its 200 day moving average price is C$48.97. The company has a market cap of C$15.53 billion, a P/E ratio of 21.19, a PEG ratio of 56.20 and a beta of 1.69. 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 (TSE:ELD) (NYSE:EGO) last released its earnings results on Thursday, July 30th. The company reported C$0.77 earnings per share (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. On average, research analysts forecast that Eldorado Gold will post 2.1505174 earnings per share for the current fiscal year.

Insider Activity at Eldorado Gold

In other news, Director Seda Erdemir sold 1,239 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of C$60.37, for a total value of C$74,798.43. 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).