TD Securities Lowers Eldorado Gold (NYSE:EGO) Price Target to $45.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target reduced by stock analysts at TD Securities from $47.00 to $45.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a “hold” rating on the basic materials company’s stock. TD Securities’ target price indicates a potential upside of 3.02% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Scotiabank upgraded shares of Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce downgraded shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a research note on Friday. Royal Bank Of Canada cut shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target on the stock. in a research report on Tuesday, February 17th. National Bank Financial reaffirmed an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Finally, Bank of America increased their target price on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research report on Monday, December 1st. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.14.

Eldorado Gold Price Performance

Shares of EGO stock traded down $0.22 during trading on Tuesday, hitting $43.68. The company had a trading volume of 1,121,565 shares, compared to its average volume of 2,747,408. The firm has a market capitalization of $8.67 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 0.19 and a beta of 0.51. Eldorado Gold has a one year low of $13.30 and a one year high of $51.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. The stock’s 50-day moving average price is $40.89 and its 200 day moving average price is $32.15.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $575.14 million for the quarter, compared to analyst estimates of $500.42 million. Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%. Equities analysts expect that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its position in shares of Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after acquiring an additional 1,631,373 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Eldorado Gold during the fourth quarter valued at about $3,499,000. XTX Topco Ltd lifted its position in shares of Eldorado Gold by 17.4% in the fourth quarter. XTX Topco Ltd now owns 12,941 shares of the basic materials company’s stock worth $465,000 after buying an additional 1,919 shares in the last quarter. Quadrature Capital Ltd increased its stake in Eldorado Gold by 285.1% in the 4th quarter. Quadrature Capital Ltd now owns 150,200 shares of the basic materials company’s stock worth $5,405,000 after acquiring an additional 111,200 shares during the last quarter. Finally, Orion Resource Partners LP boosted its position in shares of Eldorado Gold by 27.1% during the 4th quarter. Orion Resource Partners LP now owns 110,608 shares of the basic materials company’s stock valued at $3,975,000 after acquiring an additional 23,570 shares during the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.