Eldorado Gold Co. (NYSE:EGO) Receives $21.70 Average PT from Brokerages

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $21.70.

Several equities analysts have recently issued reports on the company. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 23rd. Scotiabank increased their target price on Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. Canaccord Genuity Group reduced their target price on Eldorado Gold from $29.00 to $27.00 and set a “hold” rating for the company in a report on Monday, May 5th. Wall Street Zen cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st.

Eldorado Gold Price Performance

NYSE:EGO opened at $19.44 on Friday. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 13.89 and a beta of 0.42. Eldorado Gold has a 1 year low of $13.29 and a 1 year high of $20.65. The business has a 50 day simple moving average of $18.06 and a 200-day simple moving average of $16.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The company had revenue of $341.59 million during the quarter, compared to the consensus estimate of $319.83 million. Equities analysts forecast that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Continuum Advisory LLC increased its holdings in shares of Eldorado Gold by 335.3% in the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 1,945 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Eldorado Gold in the fourth quarter worth approximately $55,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Eldorado Gold in the fourth quarter worth approximately $113,000. Finally, Tradition Wealth Management LLC purchased a new position in Eldorado Gold in the fourth quarter worth approximately $153,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.