TD Securities Cuts Eldorado Gold (NYSE:EGO) Price Target to $40.00

Key Points

• TD Securities cut its price target on Eldorado Gold from $45 to $40 and maintained a "hold" rating, implying roughly a 9.28% upside from the current share price.
• Analyst consensus is mixed—three Buys, six Holds and one Sell—with an average price target of $42.29 and several recent downgrades from major banks to neutral/hold.
• Shares traded at $36.60 (down ~0.8%) with a market cap of $7.27B; the company posted Q EPS of $0.63 (missed by $0.01) but revenue of $575.1M beat estimates, and institutional investors own about 69.6% of the stock.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD had its price objective lowered by TD Securities from $45.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the basic materials company's stock. TD Securities' price objective would indicate a potential upside of 9.28% from the stock's current price.

Several other equities research analysts have also issued reports on EGO. Canadian Imperial Bank of Commerce lowered shares of Eldorado Gold from a "sector outperform" rating to a "neutral" rating and set a $54.00 price target on the stock. in a research note on Friday, February 20th. Canaccord Genuity Group lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Friday, February 20th. Royal Bank Of Canada lowered shares of Eldorado Gold from an "outperform" rating to a "sector perform" rating and set a $48.00 price target on the stock. in a research note on Tuesday, February 17th. TD Cowen lowered their price target on shares of Eldorado Gold from $45.00 to $40.00 and set a "hold" rating on the stock in a research note on Tuesday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Eldorado Gold in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Eldorado Gold has an average rating of "Hold" and an average price target of $42.29.

Eldorado Gold Stock Down 0.8%

EGO traded down $0.29 during trading on Tuesday, hitting $36.60. The company had a trading volume of 2,173,287 shares, compared to its average volume of 2,585,509. The company has a market capitalization of $7.27 billion, a PE ratio of 14.77, a PEG ratio of 0.15 and a beta of 0.66. Eldorado Gold has a one year low of $17.18 and a one year high of $51.16. The firm's 50-day moving average price is $39.49 and its 200 day moving average price is $35.23. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The company had revenue of $575.14 million during the quarter, compared to the consensus estimate of $500.42 million. As a group, equities analysts expect that Eldorado Gold will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EGO. Van ECK Associates Corp increased its stake in shares of Eldorado Gold by 33.9% during the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company's stock worth $476,679,000 after purchasing an additional 4,173,963 shares during the last quarter. L1 Capital Pty Ltd increased its stake in shares of Eldorado Gold by 35.2% during the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company's stock worth $346,283,000 after purchasing an additional 2,512,168 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Eldorado Gold by 904.1% during the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company's stock worth $65,322,000 after purchasing an additional 1,631,373 shares during the last quarter. Millennium Management LLC increased its stake in shares of Eldorado Gold by 490.6% during the 4th quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company's stock worth $64,193,000 after purchasing an additional 1,484,503 shares during the last quarter. Finally, FIL Ltd acquired a new position in shares of Eldorado Gold during the 4th quarter worth about $35,473,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.