In a report released today, Ingrid Rico from Stifel Nicolaus maintained a Buy rating on Eldorado Gold (EGO – Research Report), with a price target of C$16.00. The company’s shares opened today at $9.08.
Rico covers the Basic Materials sector, focusing on stocks such as Eldorado Gold, Wheaton Precious Metals, and Osisko Gold Royalties. According to TipRanks, Rico has an average return of 2.6% and a 49.63% success rate on recommended stocks.
In addition to Stifel Nicolaus, Eldorado Gold also received a Buy from BMO Capital’s Brian Quast in a report issued on January 17. However, on January 19, Canaccord Genuity maintained a Hold rating on Eldorado Gold (NYSE: EGO).
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Based on Eldorado Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $222.07 million and a GAAP net loss of $50.49 million. In comparison, last year the company earned a revenue of $239.37 million and had a GAAP net loss of $52.22 million
Based on the recent corporate insider activity of 144 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.
Read More on EGO:
- Eldorado Gold downgraded to Sector Perform from Outperform at National Bank
- Eldorado Gold Announces Fourth Quarter and Full Year 2022 Preliminary Production; Provides Conference Call Details
- Eldorado Gold price target raised to C$14 from C$13.50 at National Bank
- Fluor selected by Hellas Gold Single Member to provide EPCM services
- Eldorado Gold downgraded to Hold from Buy at Canaccord