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

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target raised by Scotiabank from $16.50 to $19.00 in a research report sent to investors on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the stock. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Royal Bank of Canada increased their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Finally, StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.38.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $19.37 on Monday. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $19.55. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 13.84 and a beta of 0.81. The business’s 50 day simple moving average is $15.41 and its 200-day simple moving average is $15.89. 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 earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The company had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. As a group, equities analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors have recently modified their holdings of EGO. ANTIPODES PARTNERS Ltd grew its stake in Eldorado Gold by 648.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company’s stock worth $39,408,000 after acquiring an additional 2,296,018 shares during the period. Jennison Associates LLC increased its stake in Eldorado Gold by 17.5% in the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after purchasing an additional 1,058,137 shares during the last quarter. Carrhae Capital LLP lifted its position in Eldorado Gold by 13.9% during the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock worth $89,826,000 after buying an additional 738,233 shares during the period. Wellington Management Group LLP acquired a new stake in Eldorado Gold in the 4th quarter worth about $6,973,000. Finally, BNP Paribas Financial Markets grew its holdings in Eldorado Gold by 231.7% in the 4th quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company’s stock valued at $8,192,000 after buying an additional 384,793 shares during the period. 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.