Eldorado Gold Corporation (NYSE:EGO) Receives $23.60 Consensus PT from Brokerages

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.

Shares of Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD have earned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Three research 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 brokerages that have updated their coverage on the stock in the last year is $23.60.

EGO has been the topic of several recent research reports. CIBC restated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Canaccord Genuity Group reduced their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Wall Street Zen lowered Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th.

Eldorado Gold Price Performance

Shares of Eldorado Gold stock traded up $0.75 during trading on Friday, hitting $24.82. 1,327,886 shares of the stock traded hands, compared to its average volume of 1,566,041. 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 stock has a market cap of $5.04 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.38 and a beta of 0.37. The firm's fifty day moving average is $21.52 and its 200-day moving average is $19.03. Eldorado Gold has a 52 week low of $13.29 and a 52 week high of $25.00.

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). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%.The company had revenue of $459.53 million for the quarter, compared to the consensus estimate of $401.85 million. Research analysts expect that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Large investors have recently made changes to their positions in the business. D.A. Davidson & CO. bought a new stake in shares of Eldorado Gold in the 1st quarter worth approximately $374,000. Allspring Global Investments Holdings LLC grew its position in shares of Eldorado Gold by 11.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock worth $4,242,000 after buying an additional 25,000 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in shares of Eldorado Gold by 43.5% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock worth $63,970,000 after buying an additional 1,152,909 shares during the last quarter. LPL Financial LLC grew its position in shares of Eldorado Gold by 645.2% in the 1st quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock worth $2,821,000 after buying an additional 145,202 shares during the last quarter. Finally, TD Asset Management Inc grew its position in shares of Eldorado Gold by 2.5% in the 1st quarter. TD Asset Management Inc now owns 578,577 shares of the basic materials company's stock worth $9,724,000 after buying an additional 14,180 shares during the last quarter. 69.58% of the stock is currently owned by 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.