Today, Analysts Set Eldorado Gold Corp. (EGO) Target Price at $5.44

Today, Analysts Set Eldorado Gold Corp. (EGO) Target Price at $5.44

Shares of Eldorado Gold Corp. (NYSE:EGO) (TSE:ELD) have been assigned an average rating of “Buy” from the seventeen brokerages that are currently covering the stock. Two equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.44.

A number of analysts have recently weighed in on EGO shares. Zacks Investment Research upgraded shares of Eldorado Gold Corp. from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a report on Wednesday, August 31st. Goldman Sachs Group Inc. upgraded shares of Eldorado Gold Corp. from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.40 to $5.00 in a report on Wednesday, August 10th. Dundee Securities restated a “neutral” rating and issued a $6.00 price target on shares of Eldorado Gold Corp. in a report on Monday, September 19th. TD Securities restated a “buy” rating and issued a $6.00 price target on shares of Eldorado Gold Corp. in a report on Saturday, October 29th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $7.50 price target (down from $9.00) on shares of Eldorado Gold Corp. in a report on Monday, September 26th.

Shares of Eldorado Gold Corp. (NYSE:EGO) opened at 2.65 on Tuesday. Eldorado Gold Corp. has a one year low of $1.87 and a one year high of $5.16. The firm’s 50-day moving average is $3.25 and its 200-day moving average is $3.99. The stock’s market capitalization is $1.90 billion.

Eldorado Gold Corp. (NYSE:EGO) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. Eldorado Gold Corp. had a negative net margin of 264.05% and a positive return on equity of 0.58%. The business had revenue of $156 million for the quarter, compared to analysts’ expectations of $199.73 million. During the same period last year, the business earned ($0.01) EPS. The company’s revenue was up 38.8% compared to the same quarter last year. On average, analysts expect that Eldorado Gold Corp. will post $0.07 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in Eldorado Gold Corp. by 36.6% in the second quarter. FMR LLC now owns 47,085,635 shares of the company’s stock valued at $211,748,000 after buying an additional 12,615,600 shares during the period. Vanguard Group Inc. raised its position in Eldorado Gold Corp. by 11.5% in the second quarter. Vanguard Group Inc. now owns 14,256,327 shares of the company’s stock valued at $64,153,000 after buying an additional 1,464,808 shares during the period. Bank of New York Mellon Corp raised its position in Eldorado Gold Corp. by 11.3% in the third quarter. Bank of New York Mellon Corp now owns 13,767,045 shares of the company’s stock valued at $54,104,000 after buying an additional 1,400,961 shares during the period. Hexavest Inc. raised its position in Eldorado Gold Corp. by 23.3% in the second quarter. Hexavest Inc. now owns 13,025,189 shares of the company’s stock valued at $58,272,000 after buying an additional 2,459,039 shares during the period. Finally, Franklin Resources Inc. raised its position in Eldorado Gold Corp. by 2.5% in the second quarter. Franklin Resources Inc. now owns 11,582,950 shares of the company’s stock valued at $52,083,000 after buying an additional 280,000 shares during the period. 54.13% of the stock is owned by hedge funds and other institutional investors.

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