Eldorado Gold (NYSE:EGO) Price Target Increased to $22.50 by Analysts at CIBC

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price increased by stock analysts at CIBC from $18.00 to $22.50 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperformer” rating on the basic materials company’s stock. CIBC’s target price would indicate a potential upside of 39.15% from the stock’s previous close.

A number of other research firms have also weighed in on EGO. Royal Bank of Canada raised Eldorado Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $14.00 to $20.00 in a report on Wednesday, May 29th. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. Finally, Scotiabank upped their price objective on Eldorado Gold from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Eldorado Gold currently has an average rating of “Hold” and an average target price of $16.50.

Eldorado Gold Stock Performance

Shares of EGO stock traded up $0.13 during trading on Wednesday, reaching $16.17. 826,361 shares of the company’s stock were exchanged, compared to its average volume of 1,556,787. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3.31 billion, a PE ratio of 28.35, a PEG ratio of 0.29 and a beta of 0.92. Eldorado Gold has a twelve month low of $8.30 and a twelve month high of $16.69. The firm’s fifty day moving average price is $15.31 and its 200-day moving average price is $13.74.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $257.97 million for the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, sell-side analysts anticipate that Eldorado Gold will post 1.09 EPS for the current year.

Institutional Trading of Eldorado Gold

Large investors have recently modified their holdings of the stock. Triasima Portfolio Management inc. acquired a new stake in shares of Eldorado Gold during the 4th quarter worth $18,548,000. Dimensional Fund Advisors LP grew its holdings in shares of Eldorado Gold by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock worth $54,517,000 after purchasing an additional 295,282 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Eldorado Gold by 55.3% during the 3rd quarter. American Century Companies Inc. now owns 1,269,694 shares of the basic materials company’s stock worth $11,322,000 after purchasing an additional 452,226 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Eldorado Gold by 321.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,768,800 shares of the basic materials company’s stock worth $22,971,000 after purchasing an additional 1,348,900 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of Eldorado Gold during the 4th quarter worth $27,167,000. 69.58% of the stock is owned by institutional investors and hedge funds.

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.