Royal Bank of Canada Issues Positive Forecast for Eldorado Gold (NYSE:EGO) Stock Price

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective boosted by Royal Bank of Canada from $20.00 to $21.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other equities analysts have also issued reports on the company. Scotiabank lowered 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. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.75.

Eldorado Gold Trading Down 8.6 %

NYSE:EGO opened at $16.17 on Friday. The company has a market capitalization of $3.31 billion, a PE ratio of 11.55 and a beta of 0.81. Eldorado Gold has a 52-week low of $13.29 and a 52-week high of $19.06. The stock’s 50 day moving average price is $15.10 and its 200 day moving average price is $15.93. 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 (NYSE:EGO) (TSE:ELD) last announced its 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 net margin of 21.86% and a return on equity of 8.74%. On average, research analysts anticipate that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Trading of Eldorado Gold

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

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.