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

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has received an average rating of “Hold” from the three brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.50.

EGO has been the subject of several recent research reports. TD Securities reduced their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Scotiabank reduced their price objective on shares of Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $15.54 on Wednesday. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 11.59 and a beta of 0.93. The stock has a fifty day simple moving average of $15.49 and a two-hundred day simple moving average of $16.46. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. Eldorado Gold has a 1-year low of $9.72 and a 1-year high of $19.06.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC raised its position in shares of Eldorado Gold by 17.5% during the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after buying an additional 1,058,137 shares in the last quarter. Equinox Partners Investment Management LLC raised its position in Eldorado Gold by 32.0% during the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after purchasing an additional 239,800 shares in the last quarter. Tidal Investments LLC raised its position in Eldorado Gold by 1.8% during the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock valued at $15,783,000 after purchasing an additional 15,652 shares in the last quarter. National Bank of Canada FI lifted its stake in Eldorado Gold by 22.9% during the third quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock worth $11,089,000 after purchasing an additional 118,760 shares during the last quarter. Finally, U S Global Investors Inc. boosted its holdings in shares of Eldorado Gold by 5.9% in the 3rd quarter. U S Global Investors Inc. now owns 277,019 shares of the basic materials company’s stock worth $4,812,000 after purchasing an additional 15,351 shares in the last quarter. 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.