Royal Bank of Canada Increases Eldorado Gold (NYSE:EGO) Price Target to $22.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target hoisted by equities researchers at Royal Bank of Canada from $20.00 to $22.00 in a research report issued on Tuesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 30.49% from the company’s previous close.

A number of other research firms also recently weighed in on EGO. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Scotiabank raised their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Finally, CIBC raised their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.38.

Eldorado Gold Stock Up 2.3 %

Shares of NYSE:EGO opened at $16.86 on Tuesday. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. Eldorado Gold has a 52-week low of $8.30 and a 52-week high of $18.38. The company has a 50 day moving average of $16.69 and a two-hundred day moving average of $15.21. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 29.58 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The business had revenue of $297.14 million during the quarter. During the same period in the previous year, the business posted $0.09 EPS. As a group, analysts forecast that Eldorado Gold will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Several large investors have recently added to or reduced their stakes in EGO. Dimensional Fund Advisors LP lifted its stake in Eldorado Gold by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock valued at $54,517,000 after buying an additional 295,282 shares during the last quarter. Boston Partners bought a new stake in Eldorado Gold in the fourth quarter valued at $27,167,000. Montrusco Bolton Investments Inc. bought a new stake in Eldorado Gold in the fourth quarter valued at $18,916,000. Hillsdale Investment Management Inc. raised its stake in shares of Eldorado Gold by 321.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,768,800 shares of the basic materials company’s stock valued at $22,971,000 after purchasing an additional 1,348,900 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Eldorado Gold by 41.4% during the fourth quarter. Trexquant Investment LP now owns 151,118 shares of the basic materials company’s stock valued at $1,960,000 after purchasing an additional 44,212 shares in the last quarter. 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.