Eldorado Gold Co. (NYSE:EGO) Receives Consensus Rating of “Hold” from Brokerages

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $15.60.

Several brokerages have recently weighed in on EGO. TD Securities decreased their price target on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating for the company in a research note on Monday, February 26th. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. Royal Bank of Canada raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $14.00 to $20.00 in a research report on Wednesday, May 29th. Scotiabank raised their price objective on Eldorado Gold from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Finally, StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th.

Eldorado Gold Price Performance

EGO opened at $15.02 on Tuesday. The company has a fifty day simple moving average of $15.20 and a 200 day simple moving average of $13.55. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18. The stock has a market cap of $3.07 billion, a P/E ratio of 26.34, a P/E/G ratio of 0.28 and a beta of 1.10. Eldorado Gold has a 12 month low of $8.30 and a 12 month high of $16.69.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $257.97 million during the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same quarter in the prior year, the firm posted $0.11 earnings per share. On average, research analysts expect that Eldorado Gold will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Eldorado Gold by 12.8% in the third quarter. Barclays PLC now owns 47,346 shares of the basic materials company’s stock valued at $421,000 after buying an additional 5,370 shares during the period. Bank of Nova Scotia grew its holdings in shares of Eldorado Gold by 10.2% during the 3rd quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 1,343 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Eldorado Gold by 22.6% in the third quarter. Toronto Dominion Bank now owns 70,954 shares of the basic materials company’s stock worth $632,000 after purchasing an additional 13,062 shares during the period. Manatuck Hill Partners LLC raised its stake in Eldorado Gold by 100.0% in the third quarter. Manatuck Hill Partners LLC now owns 100,000 shares of the basic materials company’s stock valued at $891,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Eldorado Gold by 10.6% during the third quarter. Public Sector Pension Investment Board now owns 438,238 shares of the basic materials company’s stock worth $3,929,000 after purchasing an additional 42,037 shares during the period. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.