Eldorado Gold Corporation (NYSE:EGO) Receives $31.20 Average Price Target from Brokerages

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.20.

Several research firms recently commented on EGO. Bank of America raised their price target on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Monday, December 1st. Canaccord Genuity Group raised shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Scotiabank upped their price target on shares of Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Finally, Wall Street Zen downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in shares of Eldorado Gold by 33.9% during the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock valued at $476,679,000 after purchasing an additional 4,173,963 shares in the last quarter. L1 Capital Pty Ltd boosted its holdings in Eldorado Gold by 22.7% in 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 purchasing an additional 1,621,173 shares in the last quarter. Vanguard Group Inc. increased its position in Eldorado Gold by 2.6% during the third quarter. Vanguard Group Inc. now owns 8,387,901 shares of the basic materials company’s stock worth $242,226,000 after buying an additional 209,947 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Eldorado Gold by 2.3% in the third quarter. Jennison Associates LLC now owns 8,173,003 shares of the basic materials company’s stock worth $236,118,000 after buying an additional 182,780 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Eldorado Gold by 8.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,413,904 shares of the basic materials company’s stock worth $156,364,000 after buying an additional 419,576 shares during the last quarter. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Shares of EGO stock opened at $35.66 on Friday. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 0.47 and a beta of 0.57. Eldorado Gold has a 1-year low of $13.29 and a 1-year high of $37.59. The company has a current ratio of 2.79, a quick ratio of 2.28 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $30.12 and its 200-day simple moving average is $26.15.

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

Eldorado Gold Company Profile

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.