Eldorado Gold (NYSE:EGO) Price Target Cut to $19.00 by Analysts at TD Securities

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective reduced by TD Securities from $20.00 to $19.00 in a research note published on Monday morning, Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the company. CIBC raised their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank upped their price objective on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, Royal Bank of Canada lifted their target price on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Eldorado Gold currently has a consensus rating of “Hold” and a consensus target price of $20.88.

Eldorado Gold Trading Down 0.4 %

NYSE EGO traded down $0.06 during mid-day trading on Monday, hitting $16.40. The company’s stock had a trading volume of 57,374 shares, compared to its average volume of 1,514,990. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. Eldorado Gold has a 52-week low of $9.72 and a 52-week high of $19.06. The stock’s fifty day simple moving average is $17.42 and its two-hundred day simple moving average is $16.35. The firm has a market capitalization of $3.36 billion, a P/E ratio of 12.25 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping 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 firm had revenue of $331.76 million during the quarter. During the same period last year, the company posted $0.17 earnings per share. Research analysts expect that Eldorado Gold will post 1.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new position in shares of Eldorado Gold during the first quarter valued at $36,374,000. Donald Smith & CO. Inc. boosted its holdings in shares of Eldorado Gold by 9.8% in the first quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock valued at $196,261,000 after acquiring an additional 1,240,732 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Eldorado Gold during the first quarter valued at approximately $11,431,000. Commonwealth Equity Services LLC bought a new stake in Eldorado Gold during the second quarter worth approximately $6,992,000. Finally, Jessup Wealth Management Inc acquired a new stake in Eldorado Gold in the second quarter worth approximately $6,910,000. 69.58% of the stock is currently owned by 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.