Eldorado Gold (NYSE:EGO) Given New $27.00 Price Target at Canaccord Genuity Group

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD had its price objective dropped by investment analysts at Canaccord Genuity Group from $29.00 to $27.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the basic materials company's stock. Canaccord Genuity Group's price target points to a potential upside of 37.33% from the stock's current price.

A number of other brokerages have also issued reports on EGO. Scotiabank raised their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, April 23rd. National Bank Financial upgraded Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Royal Bank of Canada increased their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.70.

Eldorado Gold Price Performance

Shares of EGO traded up $0.11 during mid-day trading on Monday, reaching $19.66. 1,681,594 shares of the company's stock were exchanged, compared to its average volume of 1,620,436. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. Eldorado Gold has a 52-week low of $13.29 and a 52-week high of $20.65. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 14.04 and a beta of 0.42. The company has a 50-day simple moving average of $17.40 and a two-hundred day simple moving average of $16.15.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The company had revenue of $341.59 million during the quarter, compared to analysts' expectations of $319.83 million. On average, sell-side analysts predict that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG lifted its stake in shares of Eldorado Gold by 85.2% during the first quarter. Deutsche Bank AG now owns 870,357 shares of the basic materials company's stock worth $14,639,000 after purchasing an additional 400,477 shares in the last quarter. Vanguard Group Inc. lifted its position in Eldorado Gold by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company's stock worth $134,984,000 after acquiring an additional 148,567 shares in the last quarter. Ruffer LLP purchased a new position in Eldorado Gold in the 1st quarter worth approximately $16,687,000. XTX Topco Ltd acquired a new stake in Eldorado Gold in the first quarter valued at approximately $207,000. Finally, LPL Financial LLC lifted its position in shares of Eldorado Gold by 645.2% during the first quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock worth $2,821,000 after purchasing an additional 145,202 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.