TD Cowen Issues Pessimistic Forecast for Eldorado Gold (NYSE:EGO) Stock Price

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target decreased by research analysts at TD Cowen from $45.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. TD Cowen’s target price suggests a potential upside of 7.19% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. TD Securities lowered their price objective on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. Canadian Imperial Bank of Commerce lowered Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research note on Friday, February 20th. Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, January 21st. Scotiabank lowered their price objective on Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Eldorado Gold currently has an average rating of “Hold” and a consensus price target of $43.00.

Eldorado Gold Stock Up 1.2%

Shares of EGO stock traded up $0.43 during trading hours on Tuesday, reaching $37.32. The company had a trading volume of 850,509 shares, compared to its average volume of 2,565,871. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. Eldorado Gold has a twelve month low of $17.18 and a twelve month high of $51.16. The company has a market capitalization of $7.41 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 0.15 and a beta of 0.66. The stock’s fifty day simple moving average is $39.49 and its 200 day simple moving average is $35.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The company had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million. As a group, sell-side analysts expect that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EGO. Van ECK Associates Corp lifted its holdings in Eldorado Gold by 33.9% during the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after buying an additional 4,173,963 shares during the last quarter. L1 Capital Pty Ltd lifted its holdings in Eldorado Gold by 35.2% during the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after buying an additional 2,512,168 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Eldorado Gold by 904.1% during the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after buying an additional 1,631,373 shares during the last quarter. Millennium Management LLC lifted its holdings in Eldorado Gold by 490.6% during the 4th quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after buying an additional 1,484,503 shares during the last quarter. Finally, FIL Ltd bought a new position in Eldorado Gold during the 4th quarter worth approximately $35,473,000. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

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.