Canaccord Genuity Downgrades Eldorado Gold to Hold

By Ryan Adsit

On July 28, an analyst has provided a rating update for the Materials sector company, Eldorado Gold (TSX: ELD). Canaccord Genuity’s analyst Tony Lesiak downgraded ELD to Hold on July 28 , with a C$3.25 price target.

According to TipRanks.com, Lesiak is a 4-star analyst with an average return of 7.7% and a 48.3% success rate. Lesiak covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Hecla Mining Company, and Eldorado Gold Corp.

Eldorado Gold has an analyst consensus of Hold, with a price target consensus of C$3.63.

The company has a one year high of C$5.63 and a one year low of C$2.78. Currently, Eldorado Gold has an average volume of 4.8M.

Eldorado Gold Corp. engages in the business of 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 A. Romero and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.

The company’s shares closed on Friday at C$2.80, close to its 52-week high of C$5.63.