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

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) have been given an average rating of “Hold” by the five ratings firms that are presently 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 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.88.

Several brokerages have recently commented on EGO. Scotiabank increased their price objective 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 downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their target price on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, TD Securities cut 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.

Eldorado Gold Trading Up 3.0 %

Shares of NYSE EGO opened at $16.66 on Friday. The stock has a market capitalization of $3.41 billion, a P/E ratio of 12.43 and a beta of 0.95. The business’s 50 day moving average is $17.18 and its two-hundred day moving average is $16.46. Eldorado Gold has a 1-year low of $9.72 and a 1-year 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.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same period last year, the company earned $0.17 EPS. As a group, research analysts expect that Eldorado Gold will post 1.41 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Eldorado Gold by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company’s stock valued at $95,858,000 after acquiring an additional 38,630 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Eldorado Gold by 130.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company’s stock valued at $890,000 after buying an additional 35,820 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Eldorado Gold by 18.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 148,520 shares of the basic materials company’s stock valued at $2,090,000 after buying an additional 23,500 shares in the last quarter. Gabelli Funds LLC lifted its stake in Eldorado Gold by 2.8% in the 1st quarter. Gabelli Funds LLC now owns 2,020,000 shares of the basic materials company’s stock valued at $28,421,000 after buying an additional 55,000 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its stake in Eldorado Gold by 28.1% in the 1st quarter. Invenomic Capital Management LP now owns 1,738,044 shares of the basic materials company’s stock valued at $24,454,000 after buying an additional 380,982 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.