Scotiabank Issues Pessimistic Forecast for Eldorado Gold (NYSE:EGO) Stock Price

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target cut by Scotiabank from $20.00 to $18.50 in a report issued on Tuesday,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

Several other analysts have also weighed in on EGO. TD Securities cut their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.50.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $14.99 on Tuesday. The stock has a market cap of $3.07 billion, a P/E ratio of 11.18 and a beta of 0.94. The firm’s 50-day simple moving average is $15.61 and its 200 day simple moving average is $16.53. Eldorado Gold has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The company had revenue of $331.76 million during the quarter. During the same period in the prior year, the company posted $0.17 earnings per share. Equities analysts expect that Eldorado Gold will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Large investors have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in shares of Eldorado Gold during the 3rd quarter valued at $32,000. Blue Trust Inc. grew its stake in Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,336 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Eldorado Gold in the 3rd quarter worth about $36,000. Point72 DIFC Ltd purchased a new stake in shares of Eldorado Gold during the 2nd quarter worth about $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $191,000. 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.