Scotiabank Lowers Eldorado Gold (NYSE:EGO) Price Target to $18.50

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price cut by equities research analysts at Scotiabank from $20.00 to $18.50 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective indicates a potential upside of 23.70% from the company’s previous close.

EGO has been the topic of a number of other reports. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. TD Securities dropped their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.50.

Eldorado Gold Trading Up 1.0 %

NYSE:EGO opened at $14.96 on Tuesday. The stock has a market cap of $3.07 billion, a PE ratio of 11.16 and a beta of 0.94. Eldorado Gold has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. 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 stock’s 50-day moving average is $15.61 and its two-hundred day moving average is $16.54.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 firm posted $0.17 earnings per share. As a group, equities research analysts forecast that Eldorado Gold will post 1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new stake in shares of Eldorado Gold during the 3rd quarter worth about $32,000. Blue Trust Inc. boosted its position in Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the period. Banque Cantonale Vaudoise acquired a new position in Eldorado Gold during the third quarter valued at approximately $36,000. Point72 DIFC Ltd acquired a new position in Eldorado Gold during the second quarter valued at approximately $74,000. Finally, Net Worth Advisory Group bought a new position in shares of Eldorado Gold in the third quarter valued at approximately $198,000. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Company Profile

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.