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

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

EGO has been the topic of a number of research analyst reports. Scotiabank boosted 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. Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Bank of America increased their target price on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, October 8th.

Eldorado Gold Trading Up 6.5%

Shares of EGO stock opened at $42.90 on Wednesday. Eldorado Gold has a 1-year low of $13.29 and a 1-year high of $42.97. The firm has a market cap of $8.52 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 0.21 and a beta of 0.54. The company has a 50-day moving average of $34.14 and a two-hundred day moving average of $28.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.28.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly 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). The company had revenue of $436.44 million during the quarter, compared to analysts’ expectations of $422.25 million. Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. On average, analysts predict that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in shares of Eldorado Gold by 33.9% during the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after buying an additional 4,173,963 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Eldorado Gold by 228.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,994,328 shares of the basic materials company’s stock worth $101,649,000 after acquiring an additional 3,472,504 shares during the last quarter. Jennison Associates LLC grew its holdings in Eldorado Gold by 10.3% during the 2nd quarter. Jennison Associates LLC now owns 7,990,223 shares of the basic materials company’s stock worth $162,521,000 after acquiring an additional 744,419 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Eldorado Gold by 94.9% in the 3rd quarter. Schroder Investment Management Group now owns 1,448,558 shares of the basic materials company’s stock valued at $41,240,000 after purchasing an additional 705,140 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Eldorado Gold in the 2nd quarter valued at $13,387,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.