Eldorado Gold Co. (NYSE:EGO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has been given an average recommendation of “Moderate Buy” by the four ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.38.

EGO has been the subject of a number of recent research reports. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. Scotiabank lifted their price objective on shares of Eldorado Gold from $16.50 to $19.00 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada lifted their price target on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its position in shares of Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after buying an additional 682 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Eldorado Gold during the 4th quarter worth approximately $55,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Eldorado Gold during the 4th quarter valued at $113,000. Tradition Wealth Management LLC bought a new position in Eldorado Gold in the 4th quarter valued at $153,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Eldorado Gold in the fourth quarter worth $183,000. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Stock Down 1.3 %

EGO opened at $19.80 on Monday. The company has a market capitalization of $4.07 billion, a PE ratio of 14.14 and a beta of 0.81. The firm has a 50-day simple moving average of $15.85 and a two-hundred day simple moving average of $15.95. 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 $13.29 and a 52 week high of $20.31.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The company had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. Analysts forecast that Eldorado Gold will post 1.5 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.