Shares of Eldorado Gold Corp. (NYSE:EGO) have been given a consensus recommendation of “Buy” by the seventeen research firms that are covering the firm. Three analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $5.68.
Several research firms have recently commented on EGO. Zacks Investment Research upgraded Eldorado Gold Corp. from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research note on Wednesday, August 31st. Goldman Sachs Group Inc. upgraded Eldorado Gold Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $4.40 to $5.00 in a research report on Wednesday, August 10th. Credit Suisse Group AG cut Eldorado Gold Corp. from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $5.25 in a research report on Thursday, July 21st. Dundee Securities reiterated a “neutral” rating and issued a $6.00 price objective on shares of Eldorado Gold Corp. in a research report on Monday, September 19th. Finally, Raymond James Financial Inc. upgraded Eldorado Gold Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th.
Hedge funds have recently modified their holdings of the company. New Harbor Financial Group LLC acquired a new stake in shares of Eldorado Gold Corp. during the third quarter worth about $475,000. Capstone Asset Management Co. raised its stake in shares of Eldorado Gold Corp. by 3.1% in the third quarter. Capstone Asset Management Co. now owns 70,001 shares of the company’s stock worth $275,000 after buying an additional 2,120 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Eldorado Gold Corp. by 890.5% in the third quarter. BNP Paribas Arbitrage SA now owns 1,398,210 shares of the company’s stock worth $5,495,000 after buying an additional 1,257,055 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Eldorado Gold Corp. by 11.8% in the second quarter. Legal & General Group Plc now owns 1,646,883 shares of the company’s stock worth $7,367,000 after buying an additional 173,922 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Eldorado Gold Corp. during the second quarter worth about $2,928,000. 55.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eldorado Gold Corp. (NYSE:EGO) traded up 1.99% during midday trading on Tuesday, reaching $3.58. 2,118,781 shares of the company’s stock traded hands. The company’s market capitalization is $2.56 billion. The stock’s 50 day moving average is $3.71 and its 200-day moving average is $4.09. Eldorado Gold Corp. has a 52 week low of $1.87 and a 52 week high of $5.16.
Eldorado Gold Corp. (NYSE:EGO) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. Eldorado Gold Corp. had a negative return on equity of 0.36% and a negative net margin of 244.47%. The business earned $107 million during the quarter, compared to analysts’ expectations of $190.99 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. On average, analysts forecast that Eldorado Gold Corp. will post $0.08 earnings per share for the current fiscal year.
Eldorado Gold Corp. Company Profile
Eldorado Gold Corporation (Eldorado) owns and operates mines around the world, primarily gold mines but also a silver-lead-zinc mine. The Company’s activities involve all facets of the mining industry, including exploration, discovery, acquisition, financing, development, production and reclamation. Its business is focused in Brazil, China, Greece, Turkey and Romania.
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