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Eldorado Gold ( (TSE:ELD) ) has shared an update.
Eldorado Gold has announced an amendment to its normal course issuer bid, increasing the maximum number of shares it may repurchase from 350,000 to 10,245,474, representing about 5% of its total shares. This move reflects the company’s belief that its shares are undervalued and aims to enhance shareholder returns by utilizing available funds effectively, supported by a strong balance sheet and ongoing cash generation in a favorable gold price environment.
Spark’s Take on TSE:ELD Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELD is a Outperform.
Eldorado Gold’s strong financial performance, characterized by impressive revenue and profit growth, robust balance sheet, and efficient operations, is a key factor in its high score. Technical analysis indicates some positive momentum, despite limited indicator data. The company is fairly valued with potential for growth, as emphasized in the earnings call and recent corporate events, despite challenges with increased costs and injury rates.
To see Spark’s full report on TSE:ELD stock, click here.
More about Eldorado Gold
Eldorado Gold is a gold and base metals producer with mining, development, and exploration operations in Türkiye, Canada, and Greece. The company is known for its skilled workforce, responsible operations, and high-quality asset portfolio, and it maintains long-term partnerships with local communities. Eldorado’s shares are traded on the Toronto Stock Exchange and the New York Stock Exchange.
YTD Price Performance: 20.08%
Average Trading Volume: 2,237,142
Technical Sentiment Signal: Sell
Current Market Cap: $3.86B
Find detailed analytics on ELD stock on TipRanks’ Stock Analysis page.