Eldorado Gold (NYSE:EGO) Given New $33.00 Price Target at Bank of America

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price hoisted by analysts at Bank of America from $31.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the basic materials company’s stock. Bank of America‘s price objective would indicate a potential upside of 10.98% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. TD Securities lowered their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Scotiabank lowered their price objective on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 21st. BMO Capital Markets restated an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.17.

Eldorado Gold Stock Performance

Eldorado Gold stock opened at $29.74 on Thursday. The firm has a 50 day simple moving average of $31.94 and a 200-day simple moving average of $36.56. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 0.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. Eldorado Gold has a 1-year low of $19.62 and a 1-year high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26. The firm had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. On average, analysts expect that Eldorado Gold will post 4.27 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors have recently added to or reduced their stakes in the business. L1 Capital Pty Ltd increased its stake in Eldorado Gold by 35.2% in the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after purchasing an additional 2,512,168 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of 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 position in shares of 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. FIL Ltd acquired a new position in shares of Eldorado Gold in the 4th quarter valued at $35,473,000. Finally, Cape Ann Asset Management Ltd purchased a new position in shares of Eldorado Gold in the 1st quarter valued at $26,045,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.