Eldorado Gold Corporation (NYSE:EGO) Given Average Rating of “Moderate Buy” by Analysts

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.00.

A number of brokerages have commented on EGO. Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, October 8th. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday. Scotiabank boosted their price objective on shares of Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. Bank of America upped their price objective on shares of Eldorado Gold from $25.00 to $28.00 and gave the company an “underperform” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th.

Eldorado Gold Trading Down 0.8%

Eldorado Gold stock opened at $26.28 on Friday. Eldorado Gold has a 52 week low of $13.29 and a 52 week high of $30.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.29 and a beta of 0.49. The company has a 50 day moving average price of $27.26 and a 200 day moving average price of $22.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 30th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The business had revenue of $436.44 million during the quarter, compared to analysts’ expectations of $422.25 million. Research analysts forecast that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its stake in shares of Eldorado Gold by 35.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock valued at $46,000 after buying an additional 587 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Eldorado Gold by 7.6% in the second quarter. SBI Securities Co. Ltd. now owns 9,693 shares of the basic materials company’s stock valued at $197,000 after acquiring an additional 687 shares during the last quarter. Fox Run Management L.L.C. grew its position in Eldorado Gold by 2.6% in the second quarter. Fox Run Management L.L.C. now owns 29,553 shares of the basic materials company’s stock worth $601,000 after acquiring an additional 759 shares in the last quarter. LaSalle St. Investment Advisors LLC raised its holdings in shares of Eldorado Gold by 7.0% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company’s stock valued at $329,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. raised its holdings in shares of Eldorado Gold by 6.4% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 22,155 shares of the basic materials company’s stock valued at $451,000 after purchasing an additional 1,340 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.