TD Cowen Cuts Eldorado Gold (NYSE:EGO) Price Target to $45.00

by · The Markets Daily

Eldorado Gold (NYSE:EGO – Free Report) (TSE:ELD) had its price objective cut by TD Cowen from $47.00 to $45.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

A number of other research firms also recently weighed in on EGO. Canaccord Genuity Group downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Bank of America increased their price objective on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Monday, December 1st. Scotiabank upgraded Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce downgraded Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price target for the company. in a research note on Friday, February 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.71.

Check Out Our Latest Analysis on EGO

Eldorado Gold Trading Up 2.7%

Shares of Eldorado Gold stock opened at $45.58 on Tuesday. The firm has a market cap of $9.05 billion, a PE ratio of 18.38, a P/E/G ratio of 0.20 and a beta of 0.51. Eldorado Gold has a 1 year low of $13.30 and a 1 year high of $51.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46. The stock has a fifty day moving average price of $41.49 and a 200-day moving average price of $32.47.

Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The company had revenue of $575.14 million for the quarter, compared to the consensus estimate of $500.42 million. Equities research analysts anticipate that Eldorado Gold will post 1.5 EPS for the current year.

Eldorado Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 27th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ruffer LLP boosted its holdings in Eldorado Gold by 29.2% in the 3rd quarter. Ruffer LLP now owns 1,412,740 shares of the basic materials company’s stock valued at $40,814,000 after purchasing an additional 319,187 shares during the period. Montrusco Bolton Investments Inc. raised its position in shares of Eldorado Gold by 41.1% in the third quarter. Montrusco Bolton Investments Inc. now owns 356,975 shares of the basic materials company’s stock worth $10,311,000 after buying an additional 103,975 shares in the last quarter. American Century Companies Inc. boosted its stake in Eldorado Gold by 8.4% during the second quarter. American Century Companies Inc. now owns 1,146,359 shares of the basic materials company’s stock valued at $23,332,000 after buying an additional 88,752 shares during the period. Penserra Capital Management LLC bought a new stake in Eldorado Gold during the third quarter valued at $506,000. Finally, TT International Asset Management LTD purchased a new position in Eldorado Gold during the third quarter worth about $1,186,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

(Get Free Report)

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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