Brokerages Set Eldorado Gold Co. (NYSE:EGO) Price Target at $20.00

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has earned a consensus recommendation of “Moderate Buy” from the four analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $20.00.

Several analysts have commented on EGO shares. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Scotiabank lowered their target price on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research report on Friday, February 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in Eldorado Gold by 17.5% during the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after acquiring an additional 1,058,137 shares during the period. BNP Paribas Financial Markets boosted its stake in Eldorado Gold by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after purchasing an additional 94,040 shares during the period. JPMorgan Chase & Co. grew its holdings in Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after buying an additional 85,053 shares during the last quarter. National Bank of Canada FI increased its position in Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock worth $11,089,000 after buying an additional 118,760 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Eldorado Gold in the 4th quarter worth approximately $55,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Price Performance

Shares of EGO opened at $16.76 on Thursday. The stock has a fifty day moving average price of $14.87 and a 200 day moving average price of $15.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $19.06. The company has a market cap of $3.43 billion, a P/E ratio of 11.97 and a beta of 1.11.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.13. The business had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. On average, research analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current 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.