Analysts Set Eldorado Gold Co. (NYSE:EGO) Price Target at $15.60

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.60.

EGO has been the subject of several recent analyst reports. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Royal Bank of Canada upgraded Eldorado Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $14.00 to $20.00 in a research note on Wednesday, May 29th. Finally, Scotiabank boosted their price objective on Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd.

Hedge Funds Weigh In On Eldorado Gold

Several large investors have recently added to or reduced their stakes in EGO. Parkside Financial Bank & Trust acquired a new position in Eldorado Gold in the 4th quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. acquired a new position in Eldorado Gold in the 4th quarter valued at approximately $37,000. Tobam acquired a new position in Eldorado Gold in the 4th quarter valued at approximately $68,000. Bank of Nova Scotia raised its holdings in Eldorado Gold by 10.2% in the 3rd quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 1,343 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in Eldorado Gold in the 4th quarter valued at approximately $134,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Shares of NYSE EGO opened at $14.82 on Tuesday. The business’s 50-day moving average price is $15.19 and its two-hundred day moving average price is $13.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52. Eldorado Gold has a one year low of $8.30 and a one year high of $16.69. The company has a market capitalization of $3.03 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The company had revenue of $257.97 million during the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same quarter last year, the company posted $0.11 EPS. Analysts anticipate that Eldorado Gold will post 1.08 earnings per share for the current fiscal year.

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.