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

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price lowered by investment analysts at Scotiabank from $59.00 to $58.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price target would suggest a potential upside of 30.00% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Canadian Imperial Bank of Commerce cut shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a report on Friday, February 20th. Canaccord Genuity Group downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Royal Bank Of Canada lowered Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price on the stock. in a report on Tuesday, February 17th. National Bank Financial reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Finally, TD Securities lowered their target price on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.71.

Eldorado Gold Trading Up 2.9%

NYSE:EGO traded up $1.24 on Wednesday, reaching $44.61. The company’s stock had a trading volume of 1,180,514 shares, compared to its average volume of 2,729,454. Eldorado Gold has a 1-year low of $13.30 and a 1-year high of $51.16. The business’s 50-day moving average price is $41.07 and its two-hundred day moving average price is $32.30. The firm has a market cap of $8.86 billion, a PE ratio of 18.01, a PEG ratio of 0.19 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%.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 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in Eldorado Gold during the second quarter worth approximately $32,000. Smartleaf Asset Management LLC bought a new position in shares of Eldorado Gold during the 4th quarter worth approximately $33,000. Aventura Private Wealth LLC acquired a new stake in shares of Eldorado Gold during the 4th quarter worth approximately $36,000. Flagship Harbor Advisors LLC acquired a new position in shares of Eldorado Gold during the 4th quarter valued at $36,000. Finally, Wexford Capital LP acquired a new position in shares of Eldorado Gold during the 3rd quarter valued at $37,000. 69.58% of the stock is owned by institutional investors and hedge funds.

About Eldorado Gold

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.