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

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has received an average rating of “Hold” from the three analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $20.00.

A number of equities research analysts have commented on EGO shares. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Scotiabank decreased their price target on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th.

Institutional Investors Weigh In On Eldorado Gold

Several large investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. increased its holdings in shares of Eldorado Gold by 2.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company’s stock worth $179,942,000 after purchasing an additional 309,599 shares during the last quarter. Vanguard Group Inc. increased its stake in Eldorado Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company’s stock worth $117,228,000 after acquiring an additional 136,594 shares during the last quarter. Jennison Associates LLC increased its stake 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 worth $105,431,000 after acquiring an additional 1,058,137 shares during the last quarter. Carrhae Capital LLP increased its stake in Eldorado Gold by 13.9% during the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock worth $89,826,000 after acquiring an additional 738,233 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Eldorado Gold by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company’s stock worth $73,927,000 after acquiring an additional 74,389 shares during the last quarter. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Price Performance

NYSE:EGO opened at $14.32 on Friday. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $14.80 and its two-hundred day simple moving average is $16.12. The stock has a market cap of $2.93 billion, a PE ratio of 10.23 and a beta of 0.93. Eldorado Gold has a 52 week low of $11.98 and a 52 week high of $19.06.

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