Scotiabank Cuts Eldorado Gold (NYSE:EGO) Price Target to $18.50

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price cut by Scotiabank from $20.00 to $18.50 in a report issued on Tuesday,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

A number of other brokerages also recently commented on EGO. StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. TD Securities lowered their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.50.

Eldorado Gold Trading Up 2.0 %

Shares of EGO opened at $14.80 on Tuesday. The firm’s fifty day moving average is $15.62 and its two-hundred day moving average is $16.55. The stock has a market cap of $3.03 billion, a PE ratio of 11.04 and a beta of 0.94. 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 announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The company had revenue of $331.76 million during the quarter. During the same period in the prior year, the company posted $0.17 EPS. Research analysts forecast that Eldorado Gold will post 1.46 earnings per share for the current fiscal year.

Institutional Trading of Eldorado Gold

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

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.