Eldorado Gold Co. (NYSE:EGO) Given Average Rating of "Moderate Buy" by Analysts

Shares of Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD have been assigned a consensus recommendation of "Moderate Buy" from the six analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $21.70.

A number of brokerages have recently commented on EGO. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, April 23rd. Canaccord Genuity Group decreased their price objective on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Scotiabank boosted their price objective on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. National Bank Financial upgraded Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada boosted their price objective on Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, April 4th.

Eldorado Gold Stock Performance

Shares of NYSE EGO traded up $0.49 during trading on Friday, reaching $19.81. 1,868,430 shares of the stock traded hands, compared to its average volume of 1,638,277. Eldorado Gold has a 52-week low of $13.29 and a 52-week high of $20.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The company has a 50-day moving average of $17.98 and a 200-day moving average of $16.19. The stock has a market capitalization of $4.07 billion, a P/E ratio of 14.15 and a beta of 0.42.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $341.59 million for the quarter, compared to analysts' expectations of $319.83 million. Analysts forecast that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. increased its stake in Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock worth $48,000 after acquiring an additional 682 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company's stock valued at $3,737,000 after purchasing an additional 804 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Eldorado Gold by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company's stock valued at $2,664,000 after purchasing an additional 1,174 shares during the last quarter. LaSalle St. Investment Advisors LLC increased its position in shares of Eldorado Gold by 7.0% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company's stock valued at $329,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Eldorado Gold by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock valued at $496,000 after purchasing an additional 1,500 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors.

About Eldorado Gold

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.