TD Cowen Has Lowered Expectations for Eldorado Gold (NYSE:EGO) Stock Price

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective cut by stock analysts at TD Cowen from $47.00 to $45.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. TD Cowen’s price objective indicates a potential upside of 3.43% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Bank of America boosted their price objective on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Monday, December 1st. Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank Of Canada downgraded shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target for the company. in a research note 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, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.33.

Eldorado Gold Price Performance

Eldorado Gold stock traded down $0.39 on Tuesday, reaching $43.51. The company’s stock had a trading volume of 911,629 shares, compared to its average volume of 2,742,884. The business’s fifty day moving average price is $40.89 and its 200 day moving average price is $32.15. 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 company has a market cap of $8.64 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.19 and a beta of 0.51. Eldorado Gold has a twelve month low of $13.30 and a twelve month high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data 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 firm had revenue of $575.14 million during the quarter, compared to the consensus estimate of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. Equities analysts expect that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in Eldorado Gold by 33.9% in the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock valued at $476,679,000 after acquiring an additional 4,173,963 shares during the last quarter. L1 Capital Pty Ltd lifted its stake in Eldorado Gold by 35.2% in the fourth 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 last quarter. Vanguard Group Inc. boosted its holdings in shares of Eldorado Gold by 2.6% in the third quarter. Vanguard Group Inc. now owns 8,387,901 shares of the basic materials company’s stock valued at $242,226,000 after acquiring an additional 209,947 shares during the period. Jennison Associates LLC boosted its holdings in shares of Eldorado Gold by 2.3% in the third quarter. Jennison Associates LLC now owns 8,173,003 shares of the basic materials company’s stock valued at $236,118,000 after acquiring an additional 182,780 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Eldorado Gold by 2.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock worth $199,274,000 after acquiring an additional 132,170 shares during the last quarter. 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.