Eldorado Gold Corporation (NYSE:EGO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $31.00.

A number of research firms have weighed in on EGO. Wall Street Zen lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, October 8th. Scotiabank raised their target price on Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Bank of America lifted their price target on Eldorado Gold from $25.00 to $28.00 and gave the stock an “underperform” rating in a research report on Thursday, October 16th. Finally, Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd.

Eldorado Gold Stock Down 0.8%

Shares of Eldorado Gold stock opened at $26.28 on Friday. Eldorado Gold has a 12-month low of $13.29 and a 12-month high of $30.89. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $27.26 and a two-hundred day moving average price of $22.95. The stock has a market capitalization of $5.29 billion, a P/E ratio of 13.20, a PEG ratio of 0.29 and a beta of 0.49.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly 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). The firm had revenue of $436.44 million during the quarter, compared to the consensus estimate of $422.25 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. Equities analysts expect that Eldorado Gold will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EGO. Caitong International Asset Management Co. Ltd bought a new stake in shares of Eldorado Gold in the second quarter valued at about $32,000. Headlands Technologies LLC acquired a new position in Eldorado Gold in the 2nd quarter valued at approximately $32,000. TD Waterhouse Canada Inc. lifted its position in shares of Eldorado Gold by 35.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 587 shares during the period. State of Wyoming acquired a new stake in shares of Eldorado Gold during the 2nd quarter worth approximately $58,000. Finally, Employees Retirement System of Texas bought a new stake in shares of Eldorado Gold during the second quarter valued at approximately $83,000. 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.