Eldorado Gold (NYSE:EGO) Price Target Raised to $41.00 at Royal Bank Of Canada

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target increased by stock analysts at Royal Bank Of Canada from $37.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective would suggest a potential downside of 0.73% from the stock’s previous close.

A number of other research analysts have also weighed in on EGO. Zacks Research upgraded shares of Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Monday. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a report on Sunday, August 9th. Jefferies Financial Group assumed coverage on Eldorado Gold in a research note on Thursday, August 20th. They set a “buy” rating and a $50.00 price objective for the company. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Finally, Bank of America lifted their target price on shares of Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.57.

Eldorado Gold Stock Performance

NYSE EGO traded up $1.09 during trading on Wednesday, hitting $41.30. 2,090,444 shares of the company’s stock traded hands, compared to its average volume of 2,839,805. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.30 and a beta of 0.71. Eldorado Gold has a 12-month low of $24.44 and a 12-month high of $51.16. The business has a 50 day moving average of $37.59 and a 200-day moving average of $35.29.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The firm had revenue of $487.50 million during the quarter, compared to the consensus estimate of $529.92 million. As a group, equities research analysts anticipate that Eldorado Gold will post 3.23 earnings per share for the current fiscal year.

Institutional Trading of Eldorado Gold

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Eldorado Gold in the second quarter worth approximately $587,469,000. Donald Smith & CO. Inc. bought a new stake in Eldorado Gold during the 2nd quarter valued at $272,580,000. Van ECK Associates Corp raised its holdings in Eldorado Gold by 39.0% during the 2nd quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock valued at $580,739,000 after buying an additional 5,241,277 shares during the last quarter. L1 Capital Pty Ltd boosted its position in Eldorado Gold by 35.2% during the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after buying an additional 2,512,168 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Eldorado Gold during the 2nd quarter valued at $61,156,000. 69.58% of the stock is owned by institutional investors.

About Eldorado Gold

Eldorado Gold Corporation is a Vancouver-based mid-tier gold producer focused on the exploration, development and operation of precious-metals mining assets. The company primarily produces gold, with some operations also generating silver, lead and zinc concentrates.

Eldorado Gold operates the Lamaque gold mine in Quebec, Canada; the Kisladag and Efemcukuru gold mines in Türkiye; and the Olympias polymetallic mine in northern Greece. The company is also advancing the Skouries project in Greece, a copper-gold development that is expected to expand its production profile.

Founded in 1996, Eldorado has built an international portfolio through acquisitions, exploration and mine development.