Eldorado Gold (TSE:ELD) Cut to Hold at Canaccord Genuity Group

Eldorado Gold (TSE:ELD) (NYSE:EGO) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Friday, BayStreet reports. They currently have a C$47.00 price target on the stock, down from their prior price target of C$57.00. Canaccord Genuity Group‘s target price would suggest a potential upside of 11.11% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 9th. ATB Cormark Capital Markets boosted their price target on 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. National Bank Financial raised 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 research note on Wednesday, August 5th. Jefferies Financial Group upgraded shares of Eldorado Gold to a “strong-buy” rating in a research note on Thursday, August 20th. Finally, Bank of America upgraded shares of Eldorado Gold from an “underperform” rating to a “buy” rating and raised their target price for the stock from C$32.00 to C$54.00 in a research note on Tuesday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$58.88.

Eldorado Gold Stock Down 6.5%

ELD traded down C$2.94 during trading on Friday, hitting C$42.30. The company had a trading volume of 765,186 shares, compared to its average volume of 792,970. The company has a market capitalization of C$11.03 billion, a PE ratio of 15.05, a PEG ratio of 56.20 and a beta of 1.68. 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 one year low of C$34.50 and a one year high of C$69.46. The firm’s 50-day moving average price is C$56.09 and its 200 day moving average price is C$51.26.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last released its quarterly earnings results on Wednesday, October 28th. The company reported C$0.70 earnings per share for the quarter. The firm had revenue of C$728.69 million during the quarter. Eldorado Gold had a return on equity of 12.38% and a net margin of 29.89%. As a group, equities analysts expect that Eldorado Gold will post 2.15 earnings per share for the current year.

Insider Transactions at Eldorado Gold

In other Eldorado Gold news, Director Seda Erdemir sold 1,239 shares of the 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. 0.58% of the stock is owned by insiders.

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).