Scotiabank Boosts Eldorado Gold (NYSE:EGO) Price Target to $18.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target upped by stock analysts at Scotiabank from $15.00 to $18.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective points to a potential upside of 16.96% from the stock’s previous close.

EGO has been the topic of a number of other research reports. TD Securities cut their price target on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Stifel Nicolaus reiterated a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, May 13th. CIBC raised their price target on shares of Eldorado Gold from $16.50 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Eldorado Gold has an average rating of “Hold” and an average target price of $14.08.

Eldorado Gold Stock Down 2.1 %

EGO stock traded down $0.33 during midday trading on Thursday, reaching $15.39. The company had a trading volume of 935,817 shares, compared to its average volume of 1,619,526. Eldorado Gold has a 1 year low of $8.30 and a 1 year high of $16.69. The company has a current ratio of 3.50, a quick ratio of 2.52 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $3.14 billion, a P/E ratio of 27.00, a PEG ratio of 0.33 and a beta of 1.12. The company has a 50 day moving average of $14.66 and a two-hundred day moving average of $12.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. The company had revenue of $257.97 million during the quarter. During the same quarter in the previous year, the company earned $0.11 EPS. On average, equities research analysts expect that Eldorado Gold will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EGO. Shell Asset Management Co. raised its stake in shares of Eldorado Gold by 8.2% in the third quarter. Shell Asset Management Co. now owns 15,900 shares of the basic materials company’s stock worth $143,000 after acquiring an additional 1,200 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Eldorado Gold by 10.2% in the third quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 1,343 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Eldorado Gold by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 70,132 shares of the basic materials company’s stock worth $625,000 after acquiring an additional 1,630 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in shares of Eldorado Gold in the fourth quarter worth about $35,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Eldorado Gold in the fourth quarter worth about $37,000. 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.