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

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target hoisted by Royal Bank of Canada from $20.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the basic materials company’s stock.

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

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $16.17 on Friday. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 11.55 and a beta of 0.81. Eldorado Gold has a twelve month low of $13.29 and a twelve month high of $19.06. The business has a 50 day simple moving average of $15.10 and a 200-day simple moving average of $15.91. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

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

Institutional Investors Weigh In On Eldorado Gold

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

Eldorado Gold Company Profile

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.