Eldorado Gold Corporation (NYSE:EGO) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Eldorado Gold Corporation has received a consensus rating of "Moderate Buy" from eight brokerages, with an average target price of $26.40.
• Institutional investors have increased their holdings, with Continuum Advisory LLC raising its position by 335.3% in the first quarter.
• The company reported an EPS of $0.44 for the last quarter, missing estimates by $0.07, although revenue exceeded expectations 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 eight ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.40.

Several analysts recently issued reports on the company. Scotiabank reiterated a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Wall Street Zen downgraded Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Weiss Ratings restated a "buy (b)" rating on shares of Eldorado Gold in a research note on Wednesday, October 8th. Finally, CIBC lifted their target price on Eldorado Gold from $32.00 to $46.00 and gave the stock an "outperformer" rating in a research report on Friday.

Institutional Trading of Eldorado Gold

A number of hedge funds and other institutional investors have recently modified their holdings of EGO. Continuum Advisory LLC increased its position in shares of Eldorado Gold by 335.3% during the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after acquiring an additional 1,945 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Eldorado Gold by 11.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock worth $4,242,000 after acquiring an additional 25,000 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Eldorado Gold during the first quarter worth about $374,000. Bank of New York Mellon Corp increased its position in shares of Eldorado Gold by 36.7% during the first quarter. Bank of New York Mellon Corp now owns 18,479 shares of the basic materials company's stock worth $311,000 after acquiring an additional 4,966 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Eldorado Gold during the first quarter worth about $250,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Stock Up 0.8%

Shares of NYSE EGO opened at $27.57 on Monday. Eldorado Gold has a 12-month low of $13.29 and a 12-month high of $30.00. The company has a market cap of $5.60 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.42 and a beta of 0.44. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $25.83 and a 200 day moving average price of $21.79.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced 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 net margin of 26.07% and a return on equity of 8.79%. The company had revenue of $459.53 million during the quarter, compared to analyst estimates of $401.85 million. 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.

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