Eldorado Gold (NYSE:EGO) Price Target Raised to $21.00 at Royal Bank of Canada

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD had its price objective boosted by stock analysts at Royal Bank of Canada from $20.00 to $21.00 in a report released on Friday, Marketbeat Ratings reports. The firm presently has an "outperform" rating on the basic materials company's stock. Royal Bank of Canada's price objective points to a potential upside of 21.60% from the stock's current price.

Several other equities research analysts have also recently issued reports on the stock. National Bank Financial raised shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. StockNews.com lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Finally, Scotiabank cut their price target on Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating for the company in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.75.

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Eldorado Gold Price Performance

Shares of Eldorado Gold stock traded up $1.64 during trading on Friday, hitting $17.27. 2,248,117 shares of the company were exchanged, compared to its average volume of 1,538,640. The firm has a 50 day moving average price of $15.13 and a 200 day moving average price of $15.88. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 12.31 and a beta of 0.81. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. Eldorado Gold has a fifty-two week low of $13.29 and a fifty-two week high of $19.06.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. On average, equities analysts expect that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Several large investors have recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd lifted its holdings in Eldorado Gold by 648.7% in the 4th 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 in the last quarter. Jennison Associates LLC raised its holdings in shares of 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 purchasing an additional 1,058,137 shares during the period. Carrhae Capital LLP raised 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 period. Wellington Management Group LLP bought a new stake in shares of Eldorado Gold in the 4th quarter worth approximately $6,973,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Eldorado Gold by 231.7% during the fourth quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company's stock valued at $8,192,000 after acquiring an additional 384,793 shares during the period. Institutional investors and hedge funds own 69.58% of the company's stock.

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.