Eldorado Gold Co. (NYSE:EGO) Given Average Rating of “Hold” by Brokerages

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $20.88.

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. TD Securities dropped their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, Scotiabank increased their target price on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Monday, August 19th.

Eldorado Gold Trading Up 3.0 %

EGO opened at $16.66 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The company’s 50 day simple moving average is $17.18 and its two-hundred day simple moving average is $16.46. Eldorado Gold has a 1-year low of $9.72 and a 1-year high of $19.06. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 12.43 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $331.76 million for the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same period in the previous year, the firm posted $0.17 EPS. Analysts expect that Eldorado Gold will post 1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds have recently made changes to their positions in the business. Tobam boosted its stake in shares of Eldorado Gold by 14.8% during the second quarter. Tobam now owns 5,036 shares of the basic materials company’s stock worth $74,000 after buying an additional 651 shares during the period. Blue Trust Inc. lifted its position in Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,336 shares during the period. Financial Management Professionals Inc. acquired a new stake in Eldorado Gold in the third quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Eldorado Gold by 4.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company’s stock valued at $679,000 after purchasing an additional 1,858 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in Eldorado Gold in the third quarter valued at about $36,000. 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.