Saturday, July 12, 2025

Latest

Canaccord Revises Estimates For Eldorado Gold, Maintains Ratings

Eldorado Gold (TSX: ELD) reported their second quarter financials recently. The company produced 116,066 ounces during the second quarter with an all-in sustaining cost of $1,074. The company reaffirmed their full-year 2021 guidance of 430,000 – 460,000 ounces at an all-in sustaining cost of $920-$1,150 per ounce. The company reported revenues of $233.2 million, down 9% year over year, while gross profits decreased 21.2% to $69.4 million for the quarter.

The company has 12 analysts covering the stock with an average 12-month price target of $18.60, down from $18.93 from last month. The street high sits at $24.00 from Haywood Securities, while the lowest comes in at $12.47. Out of the 12 analysts, 6 have buy ratings, 5 have hold ratings and a single analyst has a sell rating.

Canaccord Genuity kept both their $15.00 price target and hold rating steady, but revised their 2021 and 2022 estimates off the back of Eldorado’s second quarter results. They say, “overall, we view the quarter as largely in line, with Eldorado pre-releasing gold production earlier in the quarter.” The only number that deviated from Canaccord’s estimate was EBITDA, which came in at $103 million, below their $113 million estimate.

Both production results and product guidance came in line with what Canaccord was expecting, while Canaccord is expecting grades to increase at their Lamaque mine in the second half of 2021. Canaccord Genuity says that the companies balance sheet looks strong with $411 million in cash and $150 million available under their credit facility.

Below you can see Canaccord’s new 2021 and 2022 estimates.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Canaccord: 2020 To Be Transition Year For Medipharm Labs

Last week, Medipharm Labs (TSX: LABS) reported their second-quarter earnings. Revenue came in at $13.9...

Saturday, August 22, 2020, 01:38:00 PM

Great Bear Hits 4.69 G/T Gold Over 101.50 Metres At LP Fault

Great Bear Resources (TSXV: GBR) this morning reported further results from its ongoing drill program...

Tuesday, November 24, 2020, 08:08:00 AM

Capitan Mining Releases Final Results From Gold Drill Program

Capitan Mining Inc. (TSXV: CAPT) today reported results from its 2021 drilling program on the...

Thursday, May 20, 2021, 08:28:54 AM

Canaccord Genuity Downgrades Charlotte’s Web Price Target To C$7.75 From C$9

Yesterday, Charlotte’s Web Holdings (TSX: CWEB) reported their second-quarter 2020 financials. Consolidated revenue came in...

Tuesday, September 15, 2020, 11:33:48 AM

BMO Lifts GFL Environmental Price Target To $46 After Strong Results

This month, GFL Environmental Inc. (TSX: GFL) reported its third quarter financial results. The company...

Tuesday, November 23, 2021, 04:22:00 PM