Scotiabank Lowers Eldorado Gold (NYSE:EGO) Price Target to $47.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target cut by investment analysts at Scotiabank from $55.00 to $47.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price objective would suggest a potential upside of 60.35% from the stock’s previous close.

A number of other brokerages have also recently commented on EGO. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. ATB Cormark Capital Markets downgraded Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. TD Cowen reduced their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Citigroup downgraded shares of Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada dropped their price target on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and an average target price of $41.83.

Eldorado Gold Trading Up 0.6%

EGO traded up $0.17 during trading on Tuesday, reaching $29.31. 917,646 shares of the company’s stock were exchanged, compared to its average volume of 2,910,575. The company’s fifty day moving average price is $31.91 and its 200-day moving average price is $36.41. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. The firm has a market capitalization of $7.66 billion, a PE ratio of 10.45, a P/E/G ratio of 0.18 and a beta of 0.62. Eldorado Gold has a fifty-two week low of $19.70 and a fifty-two week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%.The business had revenue of $532.43 million during the quarter, compared to analysts’ expectations of $503.31 million. As a group, equities analysts forecast that Eldorado Gold will post 3.92 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGO. Linden Thomas Advisory Services LLC raised its position in Eldorado Gold by 4.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,896 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 318 shares during the last quarter. Savant Capital LLC grew its holdings in Eldorado Gold by 2.7% during the 4th quarter. Savant Capital LLC now owns 14,135 shares of the basic materials company’s stock worth $508,000 after acquiring an additional 371 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Eldorado Gold by 0.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company’s stock worth $1,794,000 after purchasing an additional 582 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Eldorado Gold by 8.7% in the first quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 819 shares during the last quarter. Finally, Smartleaf Asset Management LLC bought a new position in shares of Eldorado Gold in the 4th quarter worth about $33,000. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.