Eldorado Gold (NYSE:EGO) Price Target Raised to $21.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective hoisted by Royal Bank of Canada from $20.00 to $21.00 in a report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Finally, Scotiabank lowered their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Eldorado Gold Price Performance

EGO stock opened at $16.17 on Friday. The company has a market cap of $3.31 billion, a PE ratio of 11.55 and a beta of 0.81. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $15.10 and a two-hundred day moving average price of $15.91. Eldorado Gold has a 12-month low of $13.29 and a 12-month high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The business had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $440.43 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. As a group, research analysts predict that Eldorado Gold will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Eldorado Gold by 55.9% in the third quarter. The Manufacturers Life Insurance Company now owns 264,111 shares of the basic materials company’s stock worth $4,592,000 after acquiring an additional 94,676 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Eldorado Gold by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock worth $2,885,000 after purchasing an additional 94,040 shares during the last quarter. National Bank of Canada FI raised its position in shares of Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after purchasing an additional 118,760 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Eldorado Gold during the 3rd quarter valued at approximately $2,626,000. Finally, Barclays PLC grew its position in shares of Eldorado Gold by 18.6% during the third quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock worth $3,064,000 after buying an additional 27,667 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.