Canaccord Downgrades Eldorado Gold

In a report released Thursday, Canaccord analyst Tony Lesiak downgrades Eldorado Gold Corp

from Buy to Hold, with a price target increase to $9 a share. Analyst at Canaccord favor Eldorado Gold for being the leader amongst its peers by outperforming its gold miner competitors by 14 percent, influencing more balance in the company's risk/reward skew. Lesiak states, Eldorado Gold is experiencing a closing gap in valuation due to its expansion plan with its Kisladag, Olympias and Skouries, leading Canaccord to take a more conservative approach on Eldorado Gold assets development.