Eldorado Gold (NYSE:EGO) Price Target Lowered to $16.50 at Scotiabank

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective lowered by Scotiabank from $18.50 to $16.50 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock.

A number of other research analysts have also issued reports on the company. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. TD Securities dropped their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Eldorado Gold Stock Performance

NYSE EGO opened at $13.92 on Friday. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.38 and a beta of 0.93. The stock has a 50-day moving average of $15.41 and a 200 day moving average of $16.42. 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 twelve month low of $9.72 and a twelve month high of $19.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in Eldorado Gold by 130.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after purchasing an additional 94,040 shares in the last quarter. Jennison Associates LLC increased its position in shares of Eldorado Gold by 17.5% in 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 last quarter. Navellier & Associates Inc. acquired a new stake in shares of Eldorado Gold in the 3rd quarter valued at $878,000. JPMorgan Chase & Co. lifted its position in shares of Eldorado Gold by 130.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock worth $2,607,000 after purchasing an additional 85,053 shares during the last quarter. Finally, Equinox Partners Investment Management LLC increased its holdings in Eldorado Gold by 32.0% in the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after buying an additional 239,800 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

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.