Eldorado Gold Corporation (NYSE:EGO) Given Consensus Rating of "Moderate Buy" by Brokerages

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 earned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $23.60.

Several brokerages have recently weighed in on EGO. CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Scotiabank reaffirmed a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Finally, Wall Street Zen downgraded Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Eldorado Gold Stock Performance

Shares of NYSE EGO opened at $26.98 on Thursday. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.43 and a beta of 0.44. Eldorado Gold has a one year low of $13.29 and a one year high of $28.66. The business has a fifty day simple moving average of $23.09 and a 200 day simple moving average of $20.13. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28.

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 for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%.The business had revenue of $459.53 million for the quarter, compared to analyst estimates of $401.85 million. Sell-side analysts expect that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in shares of Eldorado Gold by 35.4% in the second quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 587 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Eldorado Gold by 7.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 9,693 shares of the basic materials company's stock valued at $197,000 after purchasing an additional 687 shares in the last quarter. Fox Run Management L.L.C. increased its holdings in Eldorado Gold by 2.6% during the 2nd quarter. Fox Run Management L.L.C. now owns 29,553 shares of the basic materials company's stock valued at $601,000 after purchasing an additional 759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 valued at $2,664,000 after purchasing an additional 1,174 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC boosted its stake in 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 worth $329,000 after purchasing an additional 1,275 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.