Eldorado Gold Co. (NYSE:EGO) Receives $20.88 Average Price Target from Analysts

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) have been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $20.88.

Several research analysts have recently issued reports on EGO shares. StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. TD Securities lowered their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Royal Bank of Canada increased their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th.

Eldorado Gold Stock Down 1.3 %

Shares of Eldorado Gold stock opened at $14.97 on Tuesday. Eldorado Gold has a 52-week low of $9.72 and a 52-week high of $19.06. The company has a 50 day moving average of $16.61 and a 200 day moving average of $16.53. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.07 billion, a P/E ratio of 11.17 and a beta of 0.93.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same period last year, the firm posted $0.17 earnings per share. As a group, research analysts forecast that Eldorado Gold will post 1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Eldorado Gold by 130.5% in the third quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after acquiring an additional 94,040 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Eldorado Gold in the 2nd quarter valued at $2,238,000. Navellier & Associates Inc. acquired a new stake in Eldorado Gold during the 3rd quarter worth $878,000. Maverick Capital Ltd. purchased a new position in Eldorado Gold during the 2nd quarter worth $1,256,000. Finally, Equinox Partners Investment Management LLC grew its position in Eldorado Gold by 32.0% during the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after purchasing an additional 239,800 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

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.