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

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) have earned an average rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $16.33.

A number of brokerages recently weighed in on EGO. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. TD Securities decreased their target price on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. CIBC raised their target price on shares of Eldorado Gold from $16.50 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Royal Bank of Canada raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $14.00 to $20.00 in a research note on Wednesday, May 29th. Finally, Scotiabank raised their target price on shares of Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd.

Institutional Trading of Eldorado Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Shell Asset Management Co. increased its holdings in shares of Eldorado Gold by 8.2% during the 3rd quarter. Shell Asset Management Co. now owns 15,900 shares of the basic materials company’s stock worth $143,000 after buying an additional 1,200 shares during the last quarter. Bank of Nova Scotia increased its holdings in Eldorado Gold by 10.2% in the 3rd quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 1,343 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Eldorado Gold by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 70,132 shares of the basic materials company’s stock valued at $625,000 after purchasing an additional 1,630 shares during the last quarter. Parkside Financial Bank & Trust acquired a new stake in Eldorado Gold in the 4th quarter valued at approximately $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Eldorado Gold in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Trading Down 2.8 %

EGO stock opened at $15.74 on Friday. The company’s 50-day simple moving average is $15.14 and its 200-day simple moving average is $13.29. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18. Eldorado Gold has a 52-week low of $8.30 and a 52-week high of $16.69. The firm has a market cap of $3.21 billion, a P/E ratio of 27.61, a PEG ratio of 0.29 and a beta of 1.10.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The firm had revenue of $257.97 million for the quarter. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, equities analysts forecast that Eldorado Gold will post 1.09 EPS for the current fiscal year.

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.