Eldorado Gold Co. (NYSE:EGO) Receives Consensus Recommendation of “Hold” from Analysts

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has received an average recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $20.88.

A number of brokerages have commented on EGO. TD Securities lowered their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, November 4th. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th.

Eldorado Gold Price Performance

Shares of EGO stock opened at $15.18 on Tuesday. Eldorado Gold has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 11.33 and a beta of 0.93. The stock’s 50-day simple moving average is $16.51 and its 200-day simple moving average is $16.52.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The business had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, equities analysts forecast that Eldorado Gold will post 1.42 earnings per share for the current fiscal 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 EGO. Tidal Investments LLC boosted its holdings in Eldorado Gold by 1.8% during the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock worth $15,783,000 after buying an additional 15,652 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Eldorado Gold by 331.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company’s stock worth $2,295,000 after acquiring an additional 106,438 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Eldorado Gold by 84.9% during the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock valued at $322,000 after acquiring an additional 8,512 shares during the period. Geode Capital Management LLC increased its stake in shares of Eldorado Gold by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 95,911 shares of the basic materials company’s stock valued at $1,675,000 after purchasing an additional 6,629 shares in the last quarter. Finally, Barclays PLC raised its holdings in Eldorado Gold by 18.6% in the 3rd quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock worth $3,064,000 after purchasing an additional 27,667 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

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.