Eldorado Gold (EGO) Gets a Hold Rating from RBC Capital

In a report issued on March 14, Josh Wolfson from RBC Capital maintained a Hold rating on Eldorado Gold (EGOResearch Report), with a price target of $10.00. The company’s shares closed last Tuesday at $10.87.

According to, Wolfson is a 4-star analyst with an average return of 3.9% and a 60.2% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Anglogold Ashanti.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eldorado Gold with a $12.87 average price target, a 22.6% upside from current levels. In a report issued on February 28, Scotiabank also maintained a Hold rating on the stock with a $13.00 price target.

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Based on Eldorado Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $246 million and GAAP net loss of $40 million. In comparison, last year the company earned revenue of $285 million and had a net profit of $11.27 million.

Based on the recent corporate insider activity of 158 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGO in relation to earlier this year.

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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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