Eldorado Gold (NYSE:EGO) Price Target Raised to $32.00 at CIBC

Eldorado Gold (NYSE:EGO - Free Report) TSE: ELD had its target price raised by CIBC from $23.00 to $32.00 in a report released on Tuesday,Benzinga reports. They currently have an outperformer rating on the basic materials company's stock.

A number of other equities analysts have also recently weighed in on the company. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Wall Street Zen upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, June 24th. Royal Bank Of Canada raised their price objective on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, Canaccord Genuity Group cut their price objective on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $23.60.

Eldorado Gold Price Performance

Shares of NYSE EGO traded down $0.39 during trading on Tuesday, reaching $19.74. The company had a trading volume of 1,060,546 shares, compared to its average volume of 1,688,739. Eldorado Gold has a twelve month low of $13.29 and a twelve month high of $21.79. The stock has a market capitalization of $4.02 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.34 and a beta of 0.46. The stock has a 50-day moving average price of $20.19 and a two-hundred day moving average price of $17.55. The company has a current ratio of 3.12, a quick ratio of 2.53 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). Eldorado Gold had a return on equity of 8.41% and a net margin of 23.10%. The company had revenue of $341.59 million during the quarter, compared to analyst estimates of $319.83 million. As a group, sell-side analysts predict that Eldorado Gold will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently modified their holdings of EGO. Candriam S.C.A. purchased a new stake in shares of Eldorado Gold in the first quarter worth about $27,281,000. L1 Capital Pty Ltd lifted its holdings in Eldorado Gold by 22.7% during the 1st quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company's stock worth $147,580,000 after buying an additional 1,621,173 shares during the last quarter. Invenomic Capital Management LP lifted its holdings in Eldorado Gold by 127.2% during the 1st quarter. Invenomic Capital Management LP now owns 2,262,181 shares of the basic materials company's stock worth $38,050,000 after buying an additional 1,266,329 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in Eldorado Gold by 43.5% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock worth $63,970,000 after buying an additional 1,152,909 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in Eldorado Gold during the 1st quarter worth approximately $16,815,000. 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.