Eldorado Gold (NYSE:EGO) Price Target Raised to $22.50 at CIBC

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective lifted by CIBC from $18.00 to $22.50 in a research report sent to investors on Wednesday morning, Benzinga reports. CIBC currently has an outperformer rating on the basic materials company’s stock.

Several other equities analysts also recently weighed in on EGO. StockNews.com raised shares of Eldorado Gold from a hold rating to a buy rating in a research note on Monday, July 1st. Scotiabank raised their price target on shares of Eldorado Gold from $15.00 to $18.00 and gave the stock a sector perform rating in a research note on Thursday, May 23rd. National Bank Financial reissued an outperform spec overweight rating on shares of Eldorado Gold in a research note on Monday, April 8th. Finally, Royal Bank of Canada raised shares of Eldorado Gold from a sector perform rating to an outperform rating and raised their price target for the stock from $14.00 to $20.00 in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold currently has an average rating of Hold and a consensus price target of $16.50.

Eldorado Gold Stock Down 0.2 %

Shares of NYSE EGO opened at $16.55 on Wednesday. The company’s 50-day simple moving average is $15.42 and its 200-day simple moving average is $13.81. Eldorado Gold has a 52-week low of $8.30 and a 52-week high of $16.72. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 0.30 and a beta of 0.92. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. The business had revenue of $257.97 million for the quarter. During the same quarter last year, the business earned $0.11 EPS. Equities analysts predict that Eldorado Gold will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in Eldorado Gold by 1.7% during the first quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company’s stock worth $316,950,000 after purchasing an additional 380,991 shares during the period. Donald Smith & CO. Inc. increased its position in shares of Eldorado Gold by 9.8% during 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 during the last quarter. Vanguard Group Inc. increased its position in shares of Eldorado Gold by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company’s stock valued at $95,858,000 after acquiring an additional 38,630 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Eldorado Gold by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock valued at $54,517,000 after acquiring an additional 295,282 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Eldorado Gold during the first quarter valued at about $36,374,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.