Brokerages Set Eldorado Gold Co. (NYSE:EGO) Target Price at $16.50

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.50.

EGO has been the topic of several analyst reports. National Bank Financial restated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. CIBC lifted their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada upgraded shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $14.00 to $20.00 in a research note on Wednesday, May 29th. Scotiabank boosted their target price on shares of Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Triasima Portfolio Management inc. acquired a new position in shares of Eldorado Gold in the fourth quarter worth about $18,548,000. Dimensional Fund Advisors LP grew its position in Eldorado Gold by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock worth $54,517,000 after purchasing an additional 295,282 shares in the last quarter. American Century Companies Inc. raised its stake in Eldorado Gold by 55.3% during the 3rd quarter. American Century Companies Inc. now owns 1,269,694 shares of the basic materials company’s stock valued at $11,322,000 after purchasing an additional 452,226 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in shares of Eldorado Gold by 321.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,768,800 shares of the basic materials company’s stock valued at $22,971,000 after purchasing an additional 1,348,900 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of Eldorado Gold in the fourth quarter worth $27,167,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Shares of NYSE:EGO opened at $16.32 on Friday. The business’s 50-day simple moving average is $15.68 and its 200 day simple moving average is $14.03. The company has a market cap of $3.34 billion, a P/E ratio of 28.63, a PEG ratio of 0.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.52 and a current ratio of 3.50. Eldorado Gold has a one year low of $8.30 and a one year high of $17.28.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $257.97 million for the quarter. During the same period last year, the firm earned $0.11 EPS. On average, sell-side analysts forecast that Eldorado Gold will post 1.21 earnings per share for the current fiscal year.

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.