Brokerages Set Eldorado Gold Co. (NYSE:EGO) Target Price at $20.00

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has received an average rating of "Hold" from three research firms currently monitoring the stock, according to recent reports from Marketbeat Ratings. Out of these, two analysts have issued a hold rating, while one has given a buy rating for the company. The consensus among brokerage firms regarding the target price for Eldorado Gold over the next year stands at $20.00.

In recent updates from various research firms, StockNews.com upgraded its rating on Eldorado Gold from "hold" to "buy" in a notification released on February 28th. On February 7th, Scotiabank lowered its price target for Eldorado Gold from $18.50 to $16.50, branding the stock with a "sector perform" rating.

Eldorado Gold’s Recent Performance

As of Friday, shares of NYSE:EGO opened at $13.82. The corporation boasts a 50-day moving average valued at $14.81 and a 200-day moving average of $16.14. Eldorado Gold holds a market capitalization of $2.83 billion, a price-to-earnings (P/E) ratio of 9.87, and a beta of 0.93. The stock has fluctuated between a twelve-month low of $11.29 and a high of $19.06. Presently, the company maintains a current ratio of 3.37, a quick ratio of 2.54, and a low debt-to-equity ratio of 0.23.

The latest earnings report for Eldorado Gold was released on February 20th, revealing an earnings per share (EPS) of $0.62 for the quarter. This figure surpassed the consensus estimate of $0.49 by $0.13. The company achieved a net margin of 21.86% and a return on equity of 8.74%. Revenue for the quarter was reported at $435.70 million, which slightly fell short of analyst projections that anticipated $440.43 million. Analysts predict that Eldorado Gold will achieve an EPS of 1.5 for the current fiscal year.

Recent Institutional Investments

Recently, several hedge funds have adjusted their stakes in Eldorado Gold. Donald Smith & CO. Inc. increased its shareholding by 2.6% during the fourth quarter, acquiring an additional 309,599 shares, bringing their total to 12,100,980 shares valued at approximately $179,942,000. Vanguard Group Inc. also raised its ownership by 1.8%, now holding 7,881,402 shares worth $117,228,000 after buying 136,594 additional shares. Similarly, Jennison Associates LLC expanded its holdings by 17.5%, now controlling 7,090,185 shares valued at $105,431,000 after purchasing over a million additional shares during the period. Carrhae Capital LLP and Dimensional Fund Advisors LP have likewise increased their stakes, making institutional investors and hedge funds majority owners of 69.58% of Eldorado Gold’s stock.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, is engaged in the mining, exploration, development, and sale of mineral products, primarily in Turkey, Canada, Greece, and Romania. The company is a primary producer of gold and also produces silver, lead, and zinc. Eldorado Gold has full ownership of the Kisladag and Efemçukuru mines in Turkey, the Lamaque complex in Canada, and several gold mines in Greece, along with an 80.5% interest in development projects in Romania.

Eldorado, Gold, Stock