Eldorado Gold Co. (NYSE:EGO) Given Average Recommendation of “Hold” by Analysts

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) has been given a consensus rating of “Hold” by the three brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.00.

EGO has been the topic of a number of research analyst reports. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday. TD Securities decreased their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Scotiabank lowered their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $13.92 on Wednesday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The business’s 50 day simple moving average is $15.41 and its 200-day simple moving average is $16.42. Eldorado Gold has a 12 month low of $9.72 and a 12 month high of $19.06.

Institutional Trading of Eldorado Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its holdings in Eldorado Gold by 17.5% in the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after purchasing an additional 1,058,137 shares in the last quarter. Amundi lifted its stake in shares of Eldorado Gold by 13.6% during the fourth quarter. Amundi now owns 1,095,624 shares of the basic materials company’s stock valued at $17,585,000 after buying an additional 130,848 shares during the period. Equinox Partners Investment Management LLC lifted its stake in shares of Eldorado Gold by 32.0% during the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after buying an additional 239,800 shares during the period. Tidal Investments LLC boosted its position in Eldorado Gold by 1.8% during the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock worth $15,783,000 after acquiring an additional 15,652 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock worth $11,089,000 after acquiring an additional 118,760 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

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.