Eldorado Gold Co. (NYSE:EGO) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD have been assigned an average recommendation of "Moderate Buy" from the four brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.00.

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

Eldorado Gold Price Performance

Shares of Eldorado Gold stock traded up $0.09 on Thursday, reaching $16.76. 1,671,773 shares of the stock were exchanged, compared to its average volume of 1,510,108. 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 firm has a market cap of $3.43 billion, a PE ratio of 11.97 and a beta of 1.11. The firm's 50 day moving average is $14.87 and its 200-day moving average is $15.92. Eldorado Gold has a one year low of $13.29 and a one year high of $19.06.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The firm had revenue of $435.70 million during the quarter, compared to analysts' expectations of $440.43 million. As a group, analysts anticipate that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

A number of hedge funds have recently made changes to their positions in EGO. TD Waterhouse Canada Inc. raised its holdings in Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after buying an additional 682 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Eldorado Gold in the 4th quarter valued at approximately $55,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Eldorado Gold during the fourth quarter valued at $113,000. Tradition Wealth Management LLC acquired a new position in shares of Eldorado Gold during the fourth quarter worth $153,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Eldorado Gold in the fourth quarter worth $183,000. 69.58% of the stock is owned by institutional investors and hedge funds.

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.