Scotiabank Cuts Eldorado Gold (NYSE:EGO) Price Target to $18.50

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price lowered by Scotiabank from $20.00 to $18.50 in a report published on Tuesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the basic materials company’s stock.

Several other research firms also recently issued reports on EGO. StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. TD Securities decreased their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.50.

Eldorado Gold Stock Up 0.2 %

Shares of Eldorado Gold stock opened at $14.99 on Tuesday. The company has a market cap of $3.07 billion, a P/E ratio of 11.18 and a beta of 0.94. The firm has a fifty day moving average of $15.61 and a two-hundred day moving average of $16.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. Eldorado Gold has a one year low of $9.72 and a one year high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $331.76 million during the quarter. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. During the same period last year, the business posted $0.17 EPS. On average, analysts forecast that Eldorado Gold will post 1.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Eldorado Gold during the 3rd quarter worth $32,000. Banque Cantonale Vaudoise acquired a new position in Eldorado Gold during the 3rd quarter worth $36,000. The Manufacturers Life Insurance Company raised its stake in shares of Eldorado Gold by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock valued at $2,499,000 after purchasing an additional 2,472 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in shares of Eldorado Gold by 30.8% during the second quarter. XTX Topco Ltd now owns 16,450 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 3,876 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.