Scotiabank Lowers Eldorado Gold (NYSE:EGO) Price Target to $58.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective dropped by analysts at Scotiabank from $59.00 to $58.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price objective indicates a potential upside of 30.00% from the stock’s previous close.

Several other research firms have also recently weighed in on EGO. Canadian Imperial Bank of Commerce cut Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research report on Friday, February 20th. TD Securities cut their target price on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday. Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Royal Bank Of Canada downgraded shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective on the stock. in a report on Tuesday, February 17th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.71.

Eldorado Gold Stock Performance

Eldorado Gold stock traded up $1.24 on Wednesday, reaching $44.61. 1,180,514 shares of the stock were exchanged, compared to its average volume of 2,729,454. The company has a current ratio of 1.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.29. Eldorado Gold has a twelve month low of $13.30 and a twelve month high of $51.16. The firm has a fifty day moving average price of $41.07 and a two-hundred day moving average price of $32.30. The stock has a market cap of $8.86 billion, a PE ratio of 18.01, a PEG ratio of 0.19 and a beta of 0.51.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted 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). Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%.The business had revenue of $575.14 million during the quarter, compared to the consensus estimate of $500.42 million. Sell-side analysts anticipate that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Trading of Eldorado Gold

Institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in Eldorado Gold during the second quarter worth about $32,000. Smartleaf Asset Management LLC acquired a new stake in shares of Eldorado Gold in the fourth quarter valued at $33,000. Aventura Private Wealth LLC bought a new position in shares of Eldorado Gold in the fourth quarter valued at about $36,000. Flagship Harbor Advisors LLC acquired a new position in Eldorado Gold during the 4th quarter worth about $36,000. Finally, Wexford Capital LP acquired a new position in Eldorado Gold during the 3rd quarter worth about $37,000. Institutional investors and hedge funds 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.