Eldorado Gold (NYSE:EGO) Price Target Raised to $22.00 at Royal Bank of Canada

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price raised by Royal Bank of Canada from $20.00 to $22.00 in a report released on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the basic materials company’s stock.

EGO has been the topic of several other research reports. StockNews.com raised shares of Eldorado Gold from a hold rating to a buy rating in a research report on Monday, July 1st. CIBC lifted their price target on Eldorado Gold from $18.00 to $22.50 and gave the stock an outperformer rating in a report on Wednesday, July 10th. Finally, Scotiabank upped their price objective on Eldorado Gold from $18.00 to $20.00 and gave the company a sector perform rating in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $19.38.

Eldorado Gold Stock Up 1.1 %

Shares of NYSE:EGO opened at $17.98 on Tuesday. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 31.54 and a beta of 0.95. The business’s 50 day moving average is $16.78 and its 200 day moving average is $15.28. Eldorado Gold has a 12-month low of $8.30 and a 12-month high of $18.38. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $297.14 million during the quarter. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. During the same quarter in the previous year, the company earned $0.09 EPS. On average, sell-side analysts forecast that Eldorado Gold will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Eldorado Gold

A number of large investors have recently bought and sold shares of EGO. Dimensional Fund Advisors LP lifted its position in shares of Eldorado Gold by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock valued at $54,517,000 after buying an additional 295,282 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in Eldorado Gold by 321.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,768,800 shares of the basic materials company’s stock worth $22,971,000 after purchasing an additional 1,348,900 shares during the period. Boston Partners purchased a new position in shares of Eldorado Gold in the fourth quarter worth about $27,167,000. CANADA LIFE ASSURANCE Co raised its position in shares of Eldorado Gold by 130.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company’s stock valued at $890,000 after purchasing an additional 35,820 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Eldorado Gold during the 2nd quarter valued at approximately $2,238,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.