Brokerages Set Eldorado Gold Corporation (NYSE:EGO) Price Target at $31.20

by · The Markets Daily

Eldorado Gold Corporation (NYSE:EGO – Get Free Report) (TSE:ELD) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $31.20.

EGO has been the subject of several analyst reports. Wall Street Zen cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, October 8th. Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Finally, Scotiabank upped their price objective on shares of Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd.

Read Our Latest Research Report on EGO

Eldorado Gold Stock Down 0.5%

Shares of NYSE:EGO opened at $35.95 on Friday. Eldorado Gold has a 1-year low of $13.29 and a 1-year high of $37.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.28. The stock has a market cap of $7.21 billion, a P/E ratio of 19.97, a P/E/G ratio of 0.45 and a beta of 0.57. The firm has a fifty day moving average price of $30.53 and a 200 day moving average price of $26.32.

Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last announced its earnings results on Thursday, October 30th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. The business had revenue of $436.44 million during the quarter, compared to analysts’ expectations of $422.25 million. Sell-side analysts predict that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

A number of hedge funds have recently added to or reduced their stakes in EGO. Nuveen LLC acquired a new position in Eldorado Gold during the 1st quarter worth approximately $2,936,000. Russell Investments Group Ltd. boosted its stake in shares of Eldorado Gold by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 30,732 shares of the basic materials company’s stock valued at $517,000 after buying an additional 1,580 shares in the last quarter. Trexquant Investment LP grew its holdings in Eldorado Gold by 21.6% during the first quarter. Trexquant Investment LP now owns 331,354 shares of the basic materials company’s stock worth $5,573,000 after acquiring an additional 58,760 shares during the period. L1 Capital Pty Ltd grew its holdings in Eldorado Gold by 22.7% during the first quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company’s stock worth $147,580,000 after acquiring an additional 1,621,173 shares during the period. Finally, Maverick Capital Ltd. raised its position in Eldorado Gold by 121.3% in the first quarter. Maverick Capital Ltd. now owns 47,294 shares of the basic materials company’s stock worth $795,000 after acquiring an additional 25,923 shares in the last quarter. Institutional investors and hedge funds 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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