Eldorado Gold (NYSE:EGO) PT Set at $16.00 by BMO Capital Markets

BMO Capital Markets set a $16.00 price objective on Eldorado Gold (NYSE:EGO) (TSE:ELD) in a research note published on Thursday morning, TipRanks reports. The brokerage currently has a buy rating on the basic materials company’s stock.

A number of other brokerages also recently issued reports on EGO. CIBC raised shares of Eldorado Gold from an underperform rating to a neutral rating in a report on Wednesday, July 10th. National Bank Financial raised shares of Eldorado Gold from a sector perform rating to an outperform rating in a report on Thursday, September 12th. Zacks Investment Research downgraded shares of Eldorado Gold from a buy rating to a hold rating in a report on Monday, September 23rd. GMP Securities downgraded shares of Eldorado Gold from a buy rating to a hold rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised shares of Eldorado Gold from an underweight rating to a neutral rating and set a $6.00 price target on the stock in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Eldorado Gold has a consensus rating of Hold and a consensus target price of $9.15.

EGO stock opened at $7.88 on Thursday. The firm’s fifty day simple moving average is $8.31 and its 200-day simple moving average is $6.30. The company has a market capitalization of $1.25 billion, a P/E ratio of -46.35, a price-to-earnings-growth ratio of 6.50 and a beta of 1.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.20 and a quick ratio of 1.37. Eldorado Gold has a 12 month low of $2.52 and a 12 month high of $10.09.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $173.68 million during the quarter, compared to analysts’ expectations of $170.76 million. Eldorado Gold had a negative net margin of 84.44% and a negative return on equity of 1.42%. As a group, sell-side analysts forecast that Eldorado Gold will post 0.24 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in EGO. Lansdowne Partners UK LLP purchased a new stake in Eldorado Gold during the second quarter worth $31,277,000. Invesco Ltd. lifted its holdings in Eldorado Gold by 2,044.2% during the second quarter. Invesco Ltd. now owns 2,055,231 shares of the basic materials company’s stock valued at $11,961,000 after purchasing an additional 1,959,379 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Eldorado Gold by 78.2% during the second quarter. Renaissance Technologies LLC now owns 3,600,533 shares of the basic materials company’s stock valued at $20,955,000 after purchasing an additional 1,579,544 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Eldorado Gold by 61.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,959,700 shares of the basic materials company’s stock valued at $11,413,000 after purchasing an additional 746,117 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Eldorado Gold by 37.5% during the second quarter. BlackRock Inc. now owns 2,318,167 shares of the basic materials company’s stock valued at $13,492,000 after purchasing an additional 631,784 shares in the last quarter. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and 100% interest in Tocantinzinho gold project in Brazil.

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Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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