Eldorado Gold Corporation (NYSE:EGO) Receives $23.60 Average PT from Analysts

Key Points

• Eldorado Gold Corporation has received a consensus rating of "Moderate Buy" from analysts, with an average 1-year price target of $23.60.
• Recent upgrades from brokerages include Royal Bank of Canada's price target increase from $20.00 to $21.00 and Wall Street Zen upgrading the stock from a "hold" to a "buy" rating.
• Shares of Eldorado Gold opened at $21.00, representing a 2.8% increase, with a market capitalization of $4.28 billion.

Shares of Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD have earned an average rating of "Moderate Buy" from the seven brokerages that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $23.60.

A number of research firms have weighed in on EGO. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Royal Bank Of Canada increased their price objective on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Scotiabank increased their price objective on Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Canaccord Genuity Group lowered 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.

Eldorado Gold Stock Performance

NYSE EGO traded up $0.53 on Wednesday, reaching $21.03. The stock had a trading volume of 3,663,300 shares, compared to its average volume of 1,968,232. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.53 and a current ratio of 3.12. Eldorado Gold has a 12-month low of $13.29 and a 12-month high of $21.82. The business's 50-day moving average price is $20.59 and its 200 day moving average price is $17.87. The stock has a market cap of $4.29 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 0.34 and a beta of 0.46.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. The firm had revenue of $459.53 million during the quarter, compared to analysts' expectations of $401.85 million. As a group, equities analysts expect that Eldorado Gold will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. grew 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 worth $48,000 after buying an additional 682 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eldorado Gold by 0.7% during the fourth 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 worth $2,664,000 after acquiring an additional 1,174 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its position in shares of Eldorado Gold by 7.0% in the first 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. Alliancebernstein L.P. grew its position in shares of Eldorado Gold by 4.7% in the fourth 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. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Eldorado Gold in the second quarter valued at approximately $32,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.