Royal Bank of Canada Boosts Eldorado Gold (NYSE:EGO) Price Target to $22.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target raised by equities researchers at Royal Bank of Canada from $20.00 to $22.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price points to a potential upside of 35.30% from the company’s previous close.

EGO has been the topic of several other reports. CIBC boosted their price objective on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Finally, Scotiabank boosted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.38.

Eldorado Gold Trading Up 1.2 %

Shares of EGO stock traded up $0.20 on Tuesday, hitting $16.26. 331,248 shares of the stock traded hands, compared to its average volume of 1,512,245. The firm’s 50-day moving average price is $16.63 and its two-hundred day moving average price is $15.16. Eldorado Gold has a twelve month low of $8.30 and a twelve month high of $18.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62. The stock has a market capitalization of $3.33 billion, a PE ratio of 28.53 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. The firm had revenue of $297.14 million for the quarter. During the same quarter in the prior year, the company posted $0.09 earnings per share. As a group, analysts anticipate that Eldorado Gold will post 1.35 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in Eldorado Gold in the 1st quarter valued at $36,374,000. Boston Partners acquired a new stake in shares of Eldorado Gold during the fourth quarter worth about $27,167,000. Montrusco Bolton Investments Inc. purchased a new position in shares of Eldorado Gold during the fourth quarter worth about $18,916,000. Hillsdale Investment Management Inc. grew its holdings in shares of Eldorado Gold by 321.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,768,800 shares of the basic materials company’s stock worth $22,971,000 after buying an additional 1,348,900 shares during the last quarter. Finally, Donald Smith & CO. Inc. increased its position in Eldorado Gold by 9.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock valued at $196,261,000 after acquiring an additional 1,240,732 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.