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

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.88.

A number of brokerages recently weighed in on EGO. Royal Bank of Canada raised their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank raised their target price on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, TD Securities lowered their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th.

Eldorado Gold Stock Performance

Shares of EGO opened at $15.98 on Tuesday. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 11.92 and a beta of 0.93. The company’s fifty day moving average is $16.70 and its 200-day moving average is $16.55. 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 12 month low of $9.72 and a 12 month high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The firm had revenue of $331.76 million for the quarter. During the same period in the previous year, the company earned $0.17 earnings per share. Equities analysts expect that Eldorado Gold will post 1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jacobsen Capital Management acquired a new stake in shares of Eldorado Gold during the second quarter worth about $855,000. U S Global Investors Inc. raised its stake in Eldorado Gold by 27.0% in the 2nd quarter. U S Global Investors Inc. now owns 261,668 shares of the basic materials company’s stock valued at $4,162,000 after acquiring an additional 55,595 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Eldorado Gold during the 2nd quarter valued at $2,238,000. Jessup Wealth Management Inc bought a new position in Eldorado Gold during the second quarter worth $6,910,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Eldorado Gold by 4.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company’s stock valued at $679,000 after purchasing an additional 1,858 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

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.