National Bank Thinks Eldorado Gold’s Stock is Going to Recover

National Bank analyst Mike Parkin maintained a Buy rating on Eldorado Gold (EGOResearch Report) today and set a price target of C$15.50. The company’s shares closed last Tuesday at $6.15, close to its 52-week low of $5.27.

According to TipRanks.com, Parkin is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -7.8% and a 30.6% success rate. Parkin covers the Basic Materials sector, focusing on stocks such as Novagold Resources New, Newmont Mining, and Centerra Gold.

Currently, the analyst consensus on Eldorado Gold is a Moderate Buy with an average price target of $11.35, representing an 86.1% upside. In a report issued on July 20, Canaccord Genuity also upgraded the stock to Buy with a C$12.00 price target.

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Eldorado Gold’s market cap is currently $1.13B and has a P/E ratio of -2.57.

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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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