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

Key Points

• Eldorado Gold Corporation has received a consensus rating of "Moderate Buy" from seven brokerages, with a 1-year price target averaging $23.60.
• Shares traded at $23.4960 recently, reflecting a market cap of $4.77 billion and a PE ratio of 11.81.
• The company reported quarterly earnings of $0.44 per share, which was below expectations of $0.51, despite revenue of $459.53 million exceeding analyst forecasts.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD has been given a consensus rating of "Moderate Buy" by the seven research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $23.60.

A number of equities analysts have weighed in on EGO shares. Canaccord Genuity Group decreased their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a report on Monday, May 5th. Scotiabank reiterated a "sector perform" rating on shares of Eldorado Gold in a research note on Monday, August 11th. Wall Street Zen cut Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Finally, National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its position in shares of Eldorado Gold by 35.4% during the 2nd 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 in the last quarter. SBI Securities Co. Ltd. raised its position in shares of 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 acquiring an additional 687 shares in the last quarter. Fox Run Management L.L.C. increased its position in Eldorado Gold by 2.6% in the second quarter. Fox Run Management L.L.C. now owns 29,553 shares of the basic materials company's stock worth $601,000 after buying an additional 759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Eldorado Gold by 0.7% in 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 buying an additional 1,174 shares during the period. Finally, LaSalle St. Investment Advisors LLC increased its position 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 buying an additional 1,275 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Stock Up 0.0%

Shares of NYSE:EGO traded up $0.01 during midday trading on Friday, hitting $24.29. 716,463 shares of the company's stock traded hands, compared to its average volume of 1,908,366. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23. The company has a market cap of $4.93 billion, a PE ratio of 12.20, a P/E/G ratio of 0.39 and a beta of 0.37. The firm's fifty day moving average price is $21.37 and its two-hundred day moving average price is $18.89. Eldorado Gold has a twelve month low of $13.29 and a twelve month high of $24.33.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released 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). The company had revenue of $459.53 million during the quarter, compared to analysts' expectations of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. On average, equities research analysts anticipate that Eldorado Gold will post 1.5 EPS for the current fiscal year.

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.