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

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target lifted by equities research analysts at Scotiabank from $15.00 to $18.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price points to a potential upside of 15.46% from the stock’s current price.

Several other research firms have also recently weighed in on EGO. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. CIBC raised their price target on shares of Eldorado Gold from $16.50 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. Stifel Canada lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.08.

Eldorado Gold Trading Up 1.6 %

Shares of NYSE:EGO opened at $15.59 on Thursday. The company has a market cap of $3.18 billion, a P/E ratio of 27.35, a P/E/G ratio of 0.28 and a beta of 1.12. The stock’s 50-day moving average is $14.76 and its 200-day moving average is $12.99. Eldorado Gold has a 52-week low of $8.30 and a 52-week high of $16.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.52 and a current ratio of 3.50.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. The company had revenue of $257.97 million for the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same period in the prior year, the business posted $0.11 earnings per share. Equities research analysts predict that Eldorado Gold will post 1.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Eldorado Gold during the 1st quarter worth about $165,000. Tidal Investments LLC acquired a new position in Eldorado Gold in the 1st quarter valued at about $11,431,000. Invenomic Capital Management LP grew its stake in Eldorado Gold by 28.1% in the 1st quarter. Invenomic Capital Management LP now owns 1,738,044 shares of the basic materials company’s stock valued at $24,454,000 after buying an additional 380,982 shares during the last quarter. Gabelli Funds LLC grew its stake in Eldorado Gold by 2.8% in the 1st quarter. Gabelli Funds LLC now owns 2,020,000 shares of the basic materials company’s stock valued at $28,421,000 after buying an additional 55,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Eldorado Gold by 18.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 148,520 shares of the basic materials company’s stock valued at $2,090,000 after buying an additional 23,500 shares during the last quarter. 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.