Scotiabank Cuts Eldorado Gold (NYSE:EGO) Price Target to $56.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target reduced by Scotiabank from $58.00 to $56.00 in a research note published on Tuesday, Marketbeat Ratings reports. Scotiabank currently has a sector outperform rating on the basic materials company’s stock.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada lowered Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price for the company. in a report on Tuesday, February 17th. Canaccord Genuity Group lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. TD Securities reduced their target price on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. Finally, Canadian Imperial Bank of Commerce lowered Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Eldorado Gold currently has a consensus rating of “Hold” and a consensus price target of $42.00.

Eldorado Gold Stock Down 0.1%

EGO stock opened at $31.65 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $6.29 billion, a PE ratio of 12.76, a PEG ratio of 0.14 and a beta of 0.66. Eldorado Gold has a twelve month low of $17.18 and a twelve month high of $51.16. The stock has a 50-day simple moving average of $38.21 and a two-hundred day simple moving average of $35.39.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $575.14 million for the quarter, compared to analysts’ expectations of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. On average, equities analysts predict that Eldorado Gold will post 4.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EGO. Van ECK Associates Corp grew its holdings in shares of Eldorado Gold by 33.9% during the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after purchasing an additional 4,173,963 shares in the last quarter. L1 Capital Pty Ltd grew its holdings in shares of Eldorado Gold by 35.2% during the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after purchasing an additional 2,512,168 shares in the last quarter. Mackenzie Financial Corp grew its holdings 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 purchasing an additional 1,631,373 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Eldorado Gold by 490.6% during the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after purchasing an additional 1,484,503 shares in the last quarter. Finally, FIL Ltd purchased a new position in shares of Eldorado Gold during the fourth quarter worth about $35,473,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.