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

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) have earned a consensus rating of “Moderate Buy” from the four ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $20.00.

Several research analysts recently weighed in on EGO shares. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Wednesday. Scotiabank cut their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Finally, National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EGO. TD Waterhouse Canada Inc. lifted its stake in Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Eldorado Gold in the fourth quarter valued at $55,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Eldorado Gold during the 4th quarter valued at $113,000. Tradition Wealth Management LLC bought a new position in shares of Eldorado Gold during the 4th quarter worth $153,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Eldorado Gold in the 4th quarter worth about $183,000. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Up 1.8 %

EGO stock opened at $17.92 on Thursday. The stock’s 50 day moving average is $15.04 and its 200-day moving average is $15.93. Eldorado Gold has a twelve month low of $13.29 and a twelve month high of $19.06. The firm has a market capitalization of $3.67 billion, a PE ratio of 12.80 and a beta of 0.81. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data 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. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. Sell-side analysts expect that Eldorado Gold will post 1.5 EPS for the current fiscal year.

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.