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Canaccord Genuity Sticks to Their Buy Rating for Eldorado Gold (EGO)

Canaccord Genuity analyst Carey MacRury maintained a Buy rating on Eldorado Gold (EGOResearch Report) yesterday and set a price target of C$12.00. The company’s shares closed last Tuesday at $5.94, close to its 52-week low of $5.27.

According to TipRanks.com, MacRury is a 5-star analyst with an average return of 13.0% and a 58.3% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Newmont Mining, Kinross Gold, and Agnico Eagle.

Currently, the analyst consensus on Eldorado Gold is a Moderate Buy with an average price target of $10.97, implying a 79.8% upside from current levels. In a report issued on July 21, National Bank also maintained a Buy rating on the stock with a C$15.00 price target.

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The company has a one-year high of $12.49 and a one-year low of $5.27. Currently, Eldorado Gold has an average volume of 2.22M.

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Eldorado Gold Corp. engages in the mining, development and exploration of gold. It has mining operations, ongoing development projects and exploration in Turkey, Canada, Greece, Brazil, Romania and Serbia. The company was founded by Richard J. Barclay, Marco Antonio Romero, and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.

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