Eldorado Gold Corp (EGO) Receives $1.13 Average PT from Analysts

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) has received an average rating of “Hold” from the twelve analysts that are covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $1.13.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, November 19th. Canaccord Genuity reaffirmed a “hold” rating on shares of Eldorado Gold in a research report on Sunday. TD Securities dropped their price target on Eldorado Gold from $0.80 to $0.70 and set a “reduce” rating on the stock in a research report on Monday, October 29th. ValuEngine raised Eldorado Gold from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, National Bank Financial started coverage on Eldorado Gold in a research report on Thursday, October 18th. They set an “outperform” rating on the stock.

NYSE:EGO traded down $0.02 during trading on Friday, reaching $0.59. The company’s stock had a trading volume of 1,938,169 shares, compared to its average volume of 3,841,355. The company has a market capitalization of $481.80 million, a PE ratio of 29.50 and a beta of 1.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.33 and a quick ratio of 4.79. Eldorado Gold has a 12 month low of $0.60 and a 12 month high of $1.47.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $81.07 million during the quarter, compared to the consensus estimate of $107.21 million. Eldorado Gold had a negative net margin of 35.17% and a negative return on equity of 0.27%. Sell-side analysts anticipate that Eldorado Gold will post -0.02 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of EGO. Van ECK Associates Corp lifted its position in shares of Eldorado Gold by 8.0% during the 2nd quarter. Van ECK Associates Corp now owns 88,142,305 shares of the basic materials company’s stock valued at $87,569,000 after buying an additional 6,546,548 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Eldorado Gold during the 3rd quarter worth about $5,896,000. Renaissance Technologies LLC purchased a new stake in Eldorado Gold during the 2nd quarter worth about $3,327,000. OppenheimerFunds Inc. lifted its holdings in Eldorado Gold by 136.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 5,553,511 shares of the basic materials company’s stock worth $5,517,000 after purchasing an additional 3,200,000 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Eldorado Gold by 41.7% during the 3rd quarter. Bank of Montreal Can now owns 9,193,521 shares of the basic materials company’s stock worth $8,119,000 after purchasing an additional 2,705,113 shares in the last quarter. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and Tocantinzinho gold project in Brazil.

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Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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