Eldorado Gold (TSE:ELD) Lifted to “Neutral” at CIBC

CIBC upgraded shares of Eldorado Gold (TSE:ELD) (NYSE:EGO) from an underperform rating to a neutral rating in a report issued on Thursday, BayStreet.CA reports. The firm currently has C$7.00 price objective on the stock, up from their previous price objective of C$3.00.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of M.D.C. from an underweight rating to a neutral rating in a research report on Monday, July 8th. National Bank Financial downgraded shares of Detour Gold to a hold rating in a research report on Friday, June 28th.

Shares of TSE:ELD opened at C$9.12 on Thursday. The company has a current ratio of 3.98, a quick ratio of 2.70 and a debt-to-equity ratio of 18.57. The stock has a market cap of $1.45 billion and a P/E ratio of -3.63. Eldorado Gold has a 52 week low of C$3.36 and a 52 week high of C$9.16. The company has a 50 day moving average price of C$6.47.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported C($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.08) by C($0.07). The company had revenue of C$106.40 million for the quarter, compared to analyst estimates of C$151.42 million. As a group, sell-side analysts predict that Eldorado Gold will post 0.55 EPS for the current year.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and 100% interest in Tocantinzinho gold project in Brazil.

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