Eldorado Gold Co. (NYSE:EGO) Receives $20.88 Consensus Target Price from Brokerages

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has received an average rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.88.

A number of equities analysts have recently commented on the company. TD Securities cut their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in Eldorado Gold by 130.5% in the third quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after acquiring an additional 94,040 shares in the last quarter. Navellier & Associates Inc. purchased a new position in shares of Eldorado Gold during the third quarter valued at about $878,000. Maverick Capital Ltd. bought a new position in Eldorado Gold in the second quarter worth about $1,256,000. Equinox Partners Investment Management LLC lifted its holdings in Eldorado Gold by 32.0% in the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after buying an additional 239,800 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Eldorado Gold by 33.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 202,000 shares of the basic materials company’s stock valued at $3,515,000 after acquiring an additional 50,500 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Price Performance

EGO opened at $15.34 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 11.45 and a beta of 0.94. The firm’s fifty day moving average price is $15.78 and its two-hundred day moving average price is $16.57. Eldorado Gold has a 1 year low of $9.72 and a 1 year high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $331.76 million during the quarter. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. During the same period in the prior year, the business earned $0.17 earnings per share. As a group, analysts anticipate that Eldorado Gold will post 1.42 earnings per share for the current fiscal year.

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.