Eldorado Gold Co. (NYSE:EGO) Receives $16.33 Average Target Price from Brokerages

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) have received an average rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $16.33.

A number of brokerages recently commented on EGO. Scotiabank boosted their price objective on shares of Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. Royal Bank of Canada raised Eldorado Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $14.00 to $20.00 in a research report on Wednesday, May 29th. TD Securities lowered their target price on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating for the company in a research note on Monday, February 26th. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Saturday, June 1st.

Eldorado Gold Price Performance

NYSE:EGO opened at $16.36 on Friday. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18. The business’s 50-day simple moving average is $15.22 and its two-hundred day simple moving average is $13.33. The stock has a market cap of $3.34 billion, a PE ratio of 28.69, a P/E/G ratio of 0.29 and a beta of 1.10. Eldorado Gold has a 52 week low of $8.30 and a 52 week high of $16.69.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.15 by $0.12. The company had revenue of $257.97 million during the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same quarter in the prior year, the business posted $0.11 EPS. As a group, analysts forecast that Eldorado Gold will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of large investors have recently modified their holdings of EGO. Triasima Portfolio Management inc. purchased a new stake in shares of Eldorado Gold during the 4th quarter valued at $18,548,000. Dimensional Fund Advisors LP lifted its position in Eldorado Gold by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock worth $54,517,000 after buying an additional 295,282 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Eldorado Gold by 55.3% during the third quarter. American Century Companies Inc. now owns 1,269,694 shares of the basic materials company’s stock valued at $11,322,000 after buying an additional 452,226 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in Eldorado Gold by 321.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,768,800 shares of the basic materials company’s stock worth $22,971,000 after acquiring an additional 1,348,900 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Eldorado Gold during the fourth quarter valued at $27,167,000. 69.58% of the stock is currently owned by institutional investors.

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.