Now Is A Suitable Moment For A Long-Term Purchase Of Eldorado Gold Corporation (NYSE: EGO)


With over 1.65 million Eldorado Gold Corporation (EGO) shares trading Tuesday and a closing price of $11.09 on the day, the dollar volume was approximately $18.26 million. The shares have shown a positive weekly performance of 3.16% and its price on 09/01/20 lost nearly -2.89%. Currently, there are 174.13M common shares owned by the public and among those 172.81M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for EGO have a consensus price objective of $14.18. The analysts have set the share’s price value over the next 12 months at a high of $17.17 and a low of $11.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Eldorado Gold Corporation stock is 3.00 for the next 12 months. But an upside of 35.41% will see the stock hit the forecast high price target while mean target price for the stock is $14.09.

The top 3 mutual fund holders in Eldorado Gold Corporation are VanEck Vectors – Gold Miners ETF, VanEck Vectors – Junior Gold Mine, and Vanguard Total International Stoc. VanEck Vectors – Gold Miners ETF owns 9.02 million shares of the company’s stock, all valued at over $113.59 million. The company bought an additional 27404.0 shares recently to bring their total holdings to about 5.39% of the shares outstanding. VanEck Vectors – Junior Gold Mine bought 0.1 million shares to see its total holdings expand to 7.71 million shares valued at over $97.13 million and representing 4.61% of the shares outstanding. Vanguard Total International Stoc sold 8929.0 shares to bring its total holdings to over 2.74 million shares at a value of $34.51 million. Vanguard Total International Stoc now owns shares totaling to 1.64% of the shares outstanding.

Shares of Eldorado Gold Corporation (NYSE: EGO) opened at $11.70, up $0.28 from a prior closing price of $11.42. However, the script later closed the day at $11.09, down -2.89%. The company’s stock has a 5-day price change of 3.16% and 38.28% over the past three months. EGO shares are trading 38.11% year to date (YTD), with the 12-month market performance up to 19.76% higher. It has a 12-month low price of $4.60 and touched a high of $13.20 over the same period. Currently, 1.65 million shares have been traded, compared to an average intraday trading volume of 2.69 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.53%, -0.08%, and 27.05% respectively.

Institutional ownership of Eldorado Gold Corporation (NYSE: EGO) shares accounts for 75.80% of the company’s 174.13M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

It has a market capitalization of $1.86B and a beta (3y monthly) value of 1.71. The stock’s trailing 12-month PE ratio is 13.98, while the earnings-per-share (ttm) stands at $0.79. The company has a PEG of 0.31 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.96% over the week and 4.45% over the month.

Analysts forecast that Eldorado Gold Corporation (EGO) will achieve an EPS of $0 for the current quarter, $0.01 for the next quarter and $0.05 for 2018. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was $0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 121.90%, and -21.79% over the next financial year. EPS should grow at an annualized rate of 44.95% over the next five years, compared to -7.00% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Eldorado Gold Corporation (EGO) as a “Hold” at a consensus score of 3.00. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 3 of the 12 advise that investors “hold,” and 2 rated it as a “Sell.”

Looking at the support for the EGO, a number of firms have released research notes about the stock. BofA/Merrill stated their Buy rating for the stock in a research note on March 04, 2020, with the firm’s price target at $13. CIBC coverage for the Eldorado Gold Corporation (EGO) stock in a research note released on February 25, 2020 offered a Neutral rating with a price target of. Credit Suisse was of a view on January 16, 2020 that the stock is Underperform, while RBC Capital Mkts gave the stock Underperform rating on December 05, 2019, issuing a price target of. National Bank Financial on their part issued Outperform rating on September 12, 2019.


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