Canaccord Genuity Remains a Hold on Eldorado Gold (ELD)


Eldorado Gold (ELD), the Materials sector company, was revisited by a Wall Street analyst on November 23. Analyst Carey MacRury from Canaccord Genuity reiterated a Hold rating, with a C$0.90 price target on November 23.

According to TipRanks.com, MacRury has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.3% and a 20.5% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Osisko Gold Royalties Ltd.

Eldorado Gold has an analyst consensus of Moderate Buy, with a price target consensus of C$1.40.

Based on Eldorado Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$167 million. In comparison, last year the company had a GAAP net loss of C$5.24 million.

Eldorado Gold Corp. engages in the development and exploration of mineral properties. It owns and operates gold, silver, lead, and zinc mines. 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.

The company’s shares closed on Friday at C$0.81, close to its 52-week low of C$0.79.

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