Eldorado Gold Corporation (NYSE:EGO) Receives Average Recommendation of “Moderate Buy” from Analysts

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has earned a consensus rating of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $31.20.

Several research analysts recently issued reports on EGO shares. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, October 8th. Scotiabank lifted their price objective on Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. CIBC upped their target price on Eldorado Gold from $32.00 to $46.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, 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.

Eldorado Gold Trading Down 0.2%

EGO opened at $31.26 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. Eldorado Gold has a fifty-two week low of $13.29 and a fifty-two week high of $31.84. The company’s 50 day moving average price is $27.95 and its two-hundred day moving average price is $24.17. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 15.71, 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.08). The business had revenue of $436.44 million for 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%. As a group, research analysts predict that Eldorado Gold will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Eldorado Gold

Several large investors have recently added to or reduced their stakes in EGO. Allspring Global Investments Holdings LLC lifted its stake in shares of Eldorado Gold by 10.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 278,300 shares of the basic materials company’s stock valued at $5,669,000 after buying an additional 26,000 shares in the last quarter. LPL Financial LLC increased its position in shares of Eldorado Gold by 645.2% during the first quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company’s stock worth $2,821,000 after acquiring an additional 145,202 shares in the last quarter. Amundi raised its holdings in shares of Eldorado Gold by 17.7% in the 1st quarter. Amundi now owns 1,289,210 shares of the basic materials company’s stock worth $22,806,000 after acquiring an additional 193,586 shares during the last quarter. Jennison Associates LLC lifted its position in Eldorado Gold by 10.3% in the 2nd quarter. Jennison Associates LLC now owns 7,990,223 shares of the basic materials company’s stock valued at $162,521,000 after acquiring an additional 744,419 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Eldorado Gold during the 2nd quarter valued at about $644,000. 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.