Scotiabank Reiterates $2.00 Price Target for Eldorado Gold (NYSE:EGO)

Scotiabank set a $2.00 target price on Eldorado Gold (NYSE:EGO) (TSE:ELD) in a research note published on Friday, November 17th. The firm currently has a sector perform rating on the basic materials company’s stock.

A number of other analysts also recently issued reports on the stock. BidaskClub raised shares of Eldorado Gold from a strong sell rating to a sell rating in a report on Saturday, August 12th. Credit Suisse Group downgraded shares of Eldorado Gold from a neutral rating to an underperform rating and set a $2.40 price objective on the stock. in a report on Monday, July 31st. Canaccord Genuity downgraded shares of Eldorado Gold from a buy rating to a hold rating in a report on Friday, July 28th. TD Securities decreased their price objective on shares of Eldorado Gold from $4.75 to $4.25 and set a buy rating on the stock in a report on Tuesday, September 12th. Finally, J P Morgan Chase & Co cut shares of Eldorado Gold from an overweight rating to a neutral rating in a research report on Monday, November 13th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $1.98.

Shares of Eldorado Gold (NYSE EGO) traded down $0.01 during trading on Friday, reaching $1.15. 2,801,031 shares of the company’s stock were exchanged, compared to its average volume of 6,689,929. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.80 and a quick ratio of 6.16. Eldorado Gold has a twelve month low of $1.12 and a twelve month high of $3.91. The firm has a market cap of $912.49, a price-to-earnings ratio of 58.00 and a beta of 1.14.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $95.35 million for the quarter, compared to analyst estimates of $100.63 million. Eldorado Gold had a negative net margin of 5.02% and a positive return on equity of 0.51%. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Several hedge funds and other institutional investors have recently bought and sold shares of EGO. Vanguard Group Inc. boosted its stake in shares of Eldorado Gold by 4.1% in the first quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock valued at $53,984,000 after purchasing an additional 617,087 shares during the period. Geode Capital Management LLC lifted its stake in Eldorado Gold by 10.1% in the first quarter. Geode Capital Management LLC now owns 343,844 shares of the basic materials company’s stock worth $1,170,000 after acquiring an additional 31,603 shares during the last quarter. Bank of America Corp DE lifted its stake in Eldorado Gold by 76.5% in the first quarter. Bank of America Corp DE now owns 1,196,973 shares of the basic materials company’s stock worth $4,082,000 after acquiring an additional 518,656 shares during the last quarter. Creative Planning lifted its stake in Eldorado Gold by 411.2% in the second quarter. Creative Planning now owns 373,893 shares of the basic materials company’s stock worth $987,000 after acquiring an additional 300,752 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Eldorado Gold by 28.6% in the second quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 9,745 shares during the last quarter. 52.94% of the stock is owned by institutional investors and hedge funds.

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About Eldorado Gold

Eldorado Gold Corp is a Canada-based gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, the Tocantinzinho project and exploration activities in Brazil.

Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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