Price Target Update on Eldorado Gold Corporation (NYSE:EGO)

Eldorado Gold Corporation (NYSE:EGO) stock is expected to deviate a maximum of $1.39 from the average target price of $4.66 for the short term period. 9 Street Experts have initiated coverage on the stock with the most promising target being $7 and the most muted being $3.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Scotia Howard Weil upgrades its outlook on Eldorado Gold Corporation (NYSE:EGO). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Sector Perform. The rating by the firm was issued on May 18, 2016.

Eldorado Gold Corporation (NYSE:EGO): On Thursdays trading session , Opening price of the stock was $4.28 with an intraday high of $4.305. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $4.185. However, the stock managed to close at $4.2, a loss of 2.33% for the day. On the previous day, the stock had closed at $4.3. The total traded volume of the day was 4,879,045 shares.

The company shares have rallied 6.44% from its 1 Year high price. On May 17, 2016, the shares registered one year high at $5.16 and the one year low was seen on Jan 25, 2016. The 50-Day Moving Average price is $4.42 and the 200 Day Moving Average price is recorded at $3.43.

Eldorado Gold Corporation owns and operates mines around the world. The Companys activities involve various facets of the mining industry, including exploration, development, production and reclamation. Its operating gold mines include Kisladag in Turkey (100%), Efemcukuru in Turkey (100%), Tanjianshan in China (90%), White Mountain in China (95%) and Jinfeng in China (82%). Its gold projects include Perama Hill in Greece (100%), Olympias in Greece (95%), Skouries in Greece (95%), Certej in Romania (81%), Eastern Dragon in China (75%) and Tocantinzinho in Brazil (100%). Its other operating mines include Stratoni Lead and Zinc Concentrates in Greece (95%) and Vila Nova Iron Ore in Brazil (100%). The Company has completed an exploration program in Romania at the Bocsa, Magura, Muncel, Brad and Deva projects, which are situated in the Apuseni district near the Certej deposit.

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