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

Eldorado Gold (TSE:ELD) (NYSE:EGO) was upgraded by investment analysts at Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Sunday,Zacks.com reports.

Several other research analysts have also commented on the company. National Bank Financial lifted their price target on Eldorado Gold from C$65.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. TD decreased their price objective on Eldorado Gold from C$45.00 to C$40.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. ATB Cormark Capital Markets lowered Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets set a C$82.00 target price on Eldorado Gold and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Three 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$63.38.

Eldorado Gold Price Performance

Eldorado Gold stock opened at C$54.54 on Friday. The company has a market cap of C$14.22 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 56.20 and a beta of 1.43. The firm’s fifty day moving average is C$44.54 and its 200 day moving average is C$49.11. 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 52-week low of C$29.70 and a 52-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 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. Sell-side analysts forecast that Eldorado Gold will post 2.1505174 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Per Niklas Frank sold 9,524 shares of Eldorado Gold stock in a transaction on Thursday, June 25th. The stock was sold at an average price of C$43.02, for a total transaction of C$409,722.48. Following the completion of the sale, the insider directly owned 16,777 shares in the company, valued at approximately C$721,746.54. This trade represents a 36.21% decrease in their ownership of the stock. Also, Director Daniel Myerson bought 1,100 shares of the stock in a transaction dated Friday, May 15th. The shares were bought 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 directly owned 3,941 shares of the company’s stock, valued at approximately C$172,261.11. This trade represents a 38.72% increase in their position. Over the last quarter, insiders have acquired 1,184 shares of company stock worth $51,823 and have sold 21,915 shares worth $949,783. Insiders own 0.58% of the company’s stock.

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.