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 seven research firms, with three hold recommendations, three buys, and one strong buy.
• The company's average twelve-month price target is $23.60, while shares currently trade around $26.98 with a market capitalization of $5.48 billion.
• Recent quarterly earnings reported a miss on earnings per share at $0.44 compared to the expected $0.51, although revenue surpassed estimates at $459.53 million.

Shares of Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD have received an average rating of "Moderate Buy" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $23.60.

Several equities research analysts have recently weighed in on the company. Scotiabank reiterated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Saturday. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Finally, CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th.

Eldorado Gold Trading Up 3.3%

Eldorado Gold stock traded up $0.90 during mid-day trading on Thursday, hitting $27.89. 6,318,530 shares of the stock were exchanged, compared to its average volume of 1,852,883. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.44 and a beta of 0.44. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $28.66. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. The firm's fifty day simple moving average is $23.38 and its two-hundred day simple moving average is $20.41.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $459.53 million during the quarter, compared to analyst estimates of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. Analysts forecast that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EGO. Vident Advisory LLC lifted its holdings in Eldorado Gold by 5.3% in the 4th quarter. Vident Advisory LLC now owns 54,484 shares of the basic materials company's stock worth $810,000 after purchasing an additional 2,752 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eldorado Gold by 0.7% in 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 worth $2,664,000 after buying an additional 1,174 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new stake in shares of Eldorado Gold during the fourth quarter valued at about $504,000. Mackenzie Financial Corp raised its stake in Eldorado Gold by 44.9% in the fourth quarter. Mackenzie Financial Corp now owns 747,250 shares of the basic materials company's stock valued at $11,102,000 after buying an additional 231,515 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co purchased a new stake in Eldorado Gold in the fourth quarter valued at about $1,280,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.