Canaccord Genuity Group Lowers Eldorado Gold (NYSE:EGO) Price Target to $27.00

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD had its price target reduced by stock analysts at Canaccord Genuity Group from $29.00 to $27.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the basic materials company's stock. Canaccord Genuity Group's price objective suggests a potential upside of 36.16% from the company's current price.

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

Eldorado Gold Stock Performance

Eldorado Gold stock traded down $0.15 during midday trading on Monday, hitting $19.83. The company's stock had a trading volume of 82,868 shares, compared to its average volume of 1,610,360. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 14.16 and a beta of 0.42. Eldorado Gold has a 1-year low of $13.29 and a 1-year high of $20.65. The company has a 50-day moving average price of $17.16 and a two-hundred day moving average price of $16.13.

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

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors have recently added to or reduced their stakes in EGO. TD Waterhouse Canada Inc. increased its stake in Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 682 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Eldorado Gold by 0.3% during the fourth quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company's stock worth $3,737,000 after purchasing an additional 804 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 purchasing an additional 1,174 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Eldorado Gold by 4.7% in the fourth quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock worth $496,000 after acquiring an additional 1,500 shares during the period. Finally, Continuum Advisory LLC boosted its stake in shares of Eldorado Gold by 335.3% during the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,945 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

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.