CIBC Increases Eldorado Gold (NYSE:EGO) Price Target to $18.00

Eldorado Gold (NYSE:EGOFree Report) (TSE:ELD) had its target price upped by CIBC from $16.50 to $18.00 in a report released on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the basic materials company’s stock.

Several other research analysts have also recently commented on the stock. National Bank Financial restated an outperform spec overweight rating on shares of Eldorado Gold in a research report on Wednesday, January 3rd. TheStreet upgraded shares of Eldorado Gold from a d+ rating to a c- rating in a research report on Friday, November 3rd. Stifel Canada cut shares of Eldorado Gold from a buy rating to a hold rating in a research report on Friday, January 26th. Stifel Nicolaus reiterated a hold rating on shares of Eldorado Gold in a report on Friday, January 26th. Finally, StockNews.com cut shares of Eldorado Gold from a buy rating to a hold rating in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Eldorado Gold presently has an average rating of Hold and an average target price of $13.13.

View Our Latest Stock Analysis on EGO

Eldorado Gold Price Performance

NYSE EGO opened at $12.34 on Wednesday. Eldorado Gold has a 52 week low of $8.12 and a 52 week high of $13.71. The company has a current ratio of 4.00, a quick ratio of 2.89 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 39.81 and a beta of 1.14. The company has a 50-day moving average price of $12.60 and a two-hundred day moving average price of $10.86.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new stake in Eldorado Gold in the 4th quarter worth approximately $35,000. C M Bidwell & Associates Ltd. purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $37,000. Tobam purchased a new stake in Eldorado Gold in the 4th quarter worth approximately $68,000. Prelude Capital Management LLC purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $78,000. Finally, LPL Financial LLC raised its holdings in shares of Eldorado Gold by 19.5% during the 2nd quarter. LPL Financial LLC now owns 12,286 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 2,008 shares in the last quarter. Hedge funds and other institutional investors own 58.23% 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 Efem├žukuru gold mines located in western Turkey; 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.

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Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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