Eldorado Gold (NYSE:EGO) Price Target Raised to $22.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective lifted by investment analysts at Royal Bank of Canada from $20.00 to $22.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 30.49% from the stock’s current price.

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

Eldorado Gold Stock Up 2.3 %

Shares of EGO stock opened at $16.86 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62. The stock has a market cap of $3.45 billion, a PE ratio of 29.58 and a beta of 0.95. The business’s fifty day moving average is $16.69 and its 200-day moving average is $15.21. Eldorado Gold has a 1 year low of $8.30 and a 1 year high of $18.38.

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

Institutional Trading of Eldorado Gold

Several large investors have recently added to or reduced their stakes in EGO. Dimensional Fund Advisors LP grew its position in Eldorado Gold by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock worth $54,517,000 after acquiring an additional 295,282 shares in the last quarter. Boston Partners bought a new stake in Eldorado Gold in the fourth quarter worth approximately $27,167,000. Montrusco Bolton Investments Inc. bought a new stake in Eldorado Gold in the fourth quarter worth approximately $18,916,000. Hillsdale Investment Management Inc. grew its position in Eldorado Gold by 321.2% in 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 acquiring an additional 1,348,900 shares in the last quarter. Finally, Trexquant Investment LP grew its position in Eldorado Gold by 41.4% in the fourth quarter. Trexquant Investment LP now owns 151,118 shares of the basic materials company’s stock worth $1,960,000 after acquiring an additional 44,212 shares in the last quarter. 69.58% of the stock is 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.