Eldorado Gold (NYSE:EGO) Price Target Lowered to $19.00 at TD Securities

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target cut by TD Securities from $20.00 to $19.00 in a research note released on Monday, Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

A number of other equities research analysts have also recently weighed in on EGO. Royal Bank of Canada lifted their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. CIBC raised their price objective on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Scotiabank lifted their price target on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.88.

Eldorado Gold Price Performance

Shares of EGO stock traded down $0.06 on Monday, reaching $16.40. 57,374 shares of the company were exchanged, compared to its average volume of 1,514,990. Eldorado Gold has a 1 year low of $9.72 and a 1 year high of $19.06. The business has a 50-day moving average price of $17.42 and a 200 day moving average price of $16.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 12.25 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping 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 quarter in the previous year, the firm posted $0.17 earnings per share. Equities research analysts forecast that Eldorado Gold will post 1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co lifted its holdings 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 purchasing an additional 35,820 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Eldorado Gold during the second quarter valued at approximately $2,238,000. Maverick Capital Ltd. acquired a new stake in Eldorado Gold during the second quarter worth approximately $1,256,000. Gabelli Funds LLC grew 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 worth $28,421,000 after acquiring an additional 55,000 shares during the period. Finally, Equinox Partners Investment Management LLC raised its holdings in Eldorado Gold by 32.0% in the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after acquiring an additional 239,800 shares during the last quarter. 69.58% of the stock is currently 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.