Analysts Set Eldorado Gold Co. (NYSE:EGO) Price Target at $20.38

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD has earned an average recommendation of "Moderate Buy" from the four research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.38.

Several brokerages recently issued reports on EGO. StockNews.com raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Thursday, April 10th. Scotiabank raised their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Royal Bank of Canada upped their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, National Bank Financial raised shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st.

Institutional Trading of Eldorado Gold

A number of institutional investors and hedge funds have recently made changes to their positions in EGO. ANTIPODES PARTNERS Ltd lifted its stake in shares of Eldorado Gold by 648.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company's stock worth $39,408,000 after buying an additional 2,296,018 shares during the last quarter. Jennison Associates LLC boosted its stake in Eldorado Gold by 17.5% during the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company's stock valued at $105,431,000 after purchasing an additional 1,058,137 shares during the period. Carrhae Capital LLP grew its holdings in Eldorado Gold by 13.9% in the 4th quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company's stock valued at $89,826,000 after buying an additional 738,233 shares during the last quarter. Wellington Management Group LLP bought a new position in Eldorado Gold in the 4th quarter worth approximately $6,973,000. Finally, BNP Paribas Financial Markets increased its position in Eldorado Gold by 231.7% in the 4th quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company's stock worth $8,192,000 after buying an additional 384,793 shares during the period. Institutional investors and hedge funds own 69.58% of the company's stock.

Eldorado Gold Trading Down 2.2 %

EGO stock traded down $0.43 during mid-day trading on Monday, reaching $19.06. 2,634,930 shares of the stock traded hands, compared to its average volume of 1,568,024. The stock's fifty day moving average is $16.05 and its 200-day moving average is $16.00. The company has a market cap of $3.92 billion, a P/E ratio of 13.62 and a beta of 0.81. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. Eldorado Gold has a 52-week low of $13.29 and a 52-week high of $20.65.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its 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 company had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, sell-side analysts expect that Eldorado Gold will post 1.5 earnings per share for the current 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.