Eldorado Gold Co. (NYSE:EGO) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.70.

A number of research firms recently weighed in on EGO. Canaccord Genuity Group lowered their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Royal Bank of Canada upped their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Scotiabank upped their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Thursday, April 10th.

Institutional Trading of Eldorado Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. raised its stake in Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 682 shares in the last quarter. CIBC Asset Management Inc raised its stake in Eldorado Gold by 0.3% in the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock worth $3,737,000 after purchasing an additional 804 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Eldorado Gold by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company’s stock worth $2,664,000 after purchasing an additional 1,174 shares in the last quarter. LaSalle St. Investment Advisors LLC raised its stake in Eldorado Gold by 7.0% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Eldorado Gold by 4.7% in the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Trading Up 4.3%

Eldorado Gold stock opened at $19.29 on Friday. The company’s fifty day simple moving average is $17.89 and its 200-day simple moving average is $16.16. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $20.65. The stock has a market cap of $3.96 billion, a P/E ratio of 13.78 and a beta of 0.42.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of $341.59 million during the quarter, compared to analyst estimates of $319.83 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, sell-side analysts forecast that Eldorado Gold will post 1.5 EPS for the current fiscal year.

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.