Scotiabank Issues Positive Forecast for Eldorado Gold (NYSE:EGO) Stock Price

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD had its price target increased by equities researchers at Scotiabank from $16.50 to $19.00 in a research note issued on Monday, MarketBeat Ratings reports. The firm currently has a "sector perform" rating on the basic materials company's stock. Scotiabank's price target indicates a potential downside of 4.02% from the stock's previous close.

Other analysts have also recently issued reports about the stock. National Bank Financial upgraded shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Finally, Royal Bank of Canada raised their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.38.

Eldorado Gold Stock Down 1.3 %

Shares of EGO traded down $0.27 during mid-day trading on Monday, reaching $19.80. The company's stock had a trading volume of 1,836,275 shares, compared to its average volume of 1,563,355. Eldorado Gold has a 1 year low of $13.29 and a 1 year high of $20.31. 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 company has a market cap of $4.07 billion, a price-to-earnings ratio of 14.14 and a beta of 0.81. The business has a fifty day moving average of $15.85 and a 200 day moving average of $15.98.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued 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. The company had revenue of $435.70 million for 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%. As a group, analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Trading of Eldorado Gold

A number of institutional investors and hedge funds have recently bought and sold shares of EGO. Donald Smith & CO. Inc. lifted its position in shares of Eldorado Gold by 2.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company's stock valued at $179,942,000 after acquiring an additional 309,599 shares during the period. Vanguard Group Inc. raised its holdings in shares of Eldorado Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company's stock worth $117,228,000 after purchasing an additional 136,594 shares during the period. Jennison Associates LLC lifted its position 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 acquiring an additional 1,058,137 shares in the last quarter. Carrhae Capital LLP increased its holdings in shares of Eldorado Gold by 13.9% in the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company's stock worth $89,826,000 after purchasing an additional 738,233 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Eldorado Gold by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company's stock valued at $73,927,000 after acquiring an additional 74,389 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.