Eldorado Gold (TSE:ELD) Upgraded by Canadian Imperial Bank of Commerce to Strong-Buy Rating

Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold (TSE:ELD) (NYSE:EGO) from a hold rating to a strong-buy rating in a research report report published on Sunday,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. BMO Capital Markets set a C$82.00 price target on Eldorado Gold and gave the company an “outperform” rating in a research report on Wednesday, April 15th. ATB Cormark Capital Markets lowered Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. TD dropped their price objective on shares of Eldorado Gold from C$45.00 to C$40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. National Bank Financial lifted 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. Finally, Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Eldorado Gold presently has an average rating of “Moderate Buy” and an average target price of C$63.38.

Eldorado Gold Price Performance

Shares of ELD opened at C$54.54 on Friday. The business’s 50-day moving average is C$44.54 and its two-hundred day moving average is C$49.11. The company has a market capitalization of C$14.22 billion, a P/E ratio of 19.41, a P/E/G ratio of 56.20 and a beta of 1.43. The company has a debt-to-equity ratio of 25.70, a quick ratio of 2.27 and a current ratio of 1.31. Eldorado Gold has a fifty-two week low of C$29.70 and a fifty-two week high of C$69.46.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.77 earnings per share (EPS) for the quarter. Eldorado Gold had a return on equity of 12.38% and a net margin of 29.89%.The business had revenue of C$692.57 million during the quarter. Research analysts predict that Eldorado Gold will post 2.1505174 earnings per share for the current year.

Insider Transactions at Eldorado Gold

In other news, Director Daniel Myerson acquired 1,100 shares of Eldorado Gold stock in a transaction that occurred 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 purchase, the director owned 3,941 shares in the company, valued at C$172,261.11. This trade represents a 38.72% increase in their ownership of the stock. Also, insider Per Niklas Frank sold 9,524 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of C$43.02, for a total value of C$409,722.48. Following the completion of the transaction, the insider owned 16,777 shares in the company, valued at C$721,746.54. The trade was a 36.21% decrease in their position. Over the last 90 days, insiders purchased 1,184 shares of company stock valued at $51,823 and sold 21,915 shares valued at $949,783. Corporate 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.