Eldorado Gold Co. (NYSE:EGO) Receives Average Rating of “Moderate Buy” from Brokerages

Eldorado Gold Co. (NYSE:EGOGet Rating) (TSE:ELD) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.10.

Several research analysts have weighed in on the company. National Bank Financial boosted their price target on Eldorado Gold from C$15.00 to C$15.50 in a report on Tuesday, August 2nd. TD Securities decreased their price target on shares of Eldorado Gold from $8.50 to $7.50 and set a “hold” rating for the company in a research report on Wednesday, August 3rd. Stifel Nicolaus decreased their price objective on shares of Eldorado Gold from C$20.25 to C$18.00 in a research report on Wednesday, July 20th. Canaccord Genuity Group upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating and dropped their price objective for the stock from C$17.00 to C$12.00 in a research note on Wednesday, July 20th. Finally, Canaccord Genuity Group upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, July 20th.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $5.76 on Friday. The business’s 50 day simple moving average is $5.90 and its 200-day simple moving average is $8.05. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.40. Eldorado Gold has a 12 month low of $5.21 and a 12 month high of $12.49.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EGO. Dimensional Fund Advisors LP grew its position in Eldorado Gold by 77.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,589,442 shares of the basic materials company’s stock worth $14,861,000 after purchasing an additional 696,064 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Eldorado Gold by 5.6% in the fourth quarter. Schroder Investment Management Group now owns 1,630,672 shares of the basic materials company’s stock worth $15,247,000 after acquiring an additional 86,866 shares during the last quarter. PDT Partners LLC bought a new stake in shares of Eldorado Gold during the fourth quarter worth approximately $1,055,000. Mackenzie Financial Corp raised its stake in shares of Eldorado Gold by 141.0% during the fourth quarter. Mackenzie Financial Corp now owns 343,186 shares of the basic materials company’s stock worth $3,218,000 after buying an additional 200,781 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Eldorado Gold during the first quarter worth approximately $266,000. Institutional investors own 59.50% of the company’s stock.

About Eldorado Gold

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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 Efemcukuru gold mines located in western Turkey; 100% interest in Lamaque gold mines 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.

See Also

Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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