Brokerages Set Eldorado Gold Co. (NYSE:EGO) Target Price at $20.88

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has received a consensus rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $20.88.

Several research firms recently commented on EGO. TD Securities reduced their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada increased their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC grew its stake in shares of Eldorado Gold by 65.0% in the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock valued at $104,777,000 after buying an additional 2,376,241 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Eldorado Gold by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock worth $68,149,000 after purchasing an additional 136,900 shares during the last quarter. Equinox Partners Investment Management LLC lifted its position in Eldorado Gold by 32.0% in the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after buying an additional 239,800 shares during the last quarter. Tidal Investments LLC increased its position in shares of Eldorado Gold by 1.8% during the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock valued at $15,783,000 after acquiring an additional 15,652 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after acquiring an additional 118,760 shares during the period. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Stock Performance

EGO opened at $15.18 on Tuesday. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 11.33 and a beta of 0.93. The firm’s fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $16.52. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. Eldorado Gold has a 52-week low of $9.72 and a 52-week high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Equities analysts anticipate that Eldorado Gold will post 1.42 earnings per share for the current fiscal year.

About Eldorado Gold

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.