Eldorado Gold Corporation (NYSE:EGO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $31.20.

Several equities research analysts have weighed in on EGO shares. Canaccord Genuity Group upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Scotiabank lifted their target price on Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. Finally, Bank of America increased their target price on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Monday.

Eldorado Gold Price Performance

EGO stock opened at $31.26 on Tuesday. The company’s 50-day moving average price is $27.95 and its two-hundred day moving average price is $24.17. The firm has a market cap of $6.28 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.29 and a beta of 0.49. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $31.84.

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

Hedge Funds Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGO. Caitong International Asset Management Co. Ltd bought a new stake in shares of Eldorado Gold during the second quarter worth $32,000. Headlands Technologies LLC acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at $32,000. Wexford Capital LP bought a new stake in Eldorado Gold during the 3rd quarter worth $37,000. TD Waterhouse Canada Inc. grew its position in Eldorado Gold by 35.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 587 shares during the last quarter. Finally, State of Wyoming acquired a new position in Eldorado Gold in the 2nd quarter worth about $58,000. Institutional investors 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.