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

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

A number of other equities research analysts also recently commented on the company. Scotiabank upped their price objective on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, June 24th. Royal Bank Of Canada boosted their target price on Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Eldorado Gold presently has an average rating of "Moderate Buy" and a consensus target price of $23.60.

Eldorado Gold Price Performance

EGO traded down $0.20 during trading on Tuesday, hitting $20.15. The company's stock had a trading volume of 1,017,493 shares, compared to its average volume of 1,974,316. The firm's 50 day moving average price is $20.17 and its two-hundred day moving average price is $17.48. The company has a quick ratio of 2.53, a current ratio of 3.12 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 $21.79. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.35 and a beta of 0.46.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its 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). The firm had revenue of $341.59 million for the quarter, compared to the consensus estimate of $319.83 million. Eldorado Gold had a return on equity of 8.41% and a net margin of 23.10%. Sell-side analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Continuum Advisory LLC boosted its position in Eldorado Gold by 335.3% during the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,945 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Eldorado Gold by 142.6% during the first quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock valued at $151,000 after purchasing an additional 5,294 shares during the last quarter. Tradition Wealth Management LLC acquired a new position in Eldorado Gold during the fourth quarter valued at approximately $153,000. Finally, Envestnet Asset Management Inc. bought a new stake in Eldorado Gold in the fourth quarter valued at approximately $183,000. 69.58% of the stock is owned by institutional investors and hedge funds.

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.