RBC Capital Mkts lifts Eldorado Gold Corporation [EGO] price estimate. Who else is bullish?

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Eldorado Gold Corporation [NYSE: EGO] loss -2.84% on the last trading session, reaching $8.88 price per share at the time. The company report on December 24, 2021 that Eldorado Gold Announces Normal Course Issuer Bid.

Eldorado Gold Corporation (“Eldorado” or “the Company”) announces that the Toronto Stock Exchange (the “TSX”) has accepted for filing the Eldorado’s Notice in respect of a normal course issuer bid (the “NCIB”) to be transacted through the facilities of the TSX and/or through alternative trading systems, including the New York Stock Exchange (“NYSE”).


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Pursuant to the NCIB, Eldorado may purchase up to 1,421,373 of its common shares (the “Shares”) representing approximately 0.8% of the total 182,659,032 common shares of the Eldorado issued and outstanding as at December 17, 2021. Purchases will be made at prevailing market prices commencing December 30, 2021 (other than for purchases through the NYSE, which will commence January 29, 2022) and ending December 29, 2022. Pursuant to TSX policies, daily purchases will not exceed 109,140 common shares, other than block purchase exceptions. The average daily trading volume for the six months period prior to December 1, 2021 was 436,561 common shares. Purchases under the NCIB will depend on future market conditions. Purchases will also be made on the NYSE in accordance with applicable U.S. securities laws.

Eldorado Gold Corporation represents 182.45 million in outstanding shares, while the company has a total market value of $1.62 billion with the latest information. EGO stock price has been found in the range of $8.79 to $9.03.

If compared to the average trading volume of 1.87M shares, EGO reached a trading volume of 2991340 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Eldorado Gold Corporation [EGO]:

RBC Capital Mkts have made an estimate for Eldorado Gold Corporation shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on October 09, 2020. The new note on the price target was released on March 04, 2020, representing the official price target for Eldorado Gold Corporation stock. On January 16, 2020, analysts decreased their price target for EGO shares from 9 to 7.50.

The Average True Range (ATR) for Eldorado Gold Corporation is set at 0.33, with the Price to Sales ratio for EGO stock in the period of the last 12 months amounting to 1.66. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 2.53. Price to Free Cash Flow for EGO in the course of the last twelve months was 21.64 with Quick ratio for the last quarter at 3.30.

Trading performance analysis for EGO stock

Eldorado Gold Corporation [EGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.23. With this latest performance, EGO shares dropped by -4.00% in over the last four-week period, additionally sinking by -10.12% over the last 6 months – not to mention a drop of -37.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EGO stock in for the last two-week period is set at 43.18, with the RSI for the last a single of trading hit 39.43, and the three-weeks RSI is set at 45.20 for Eldorado Gold Corporation [EGO]. The present Moving Average for the last 50 days of trading for this stock 9.31, while it was recorded at 9.16 for the last single week of trading, and 9.74 for the last 200 days.

Eldorado Gold Corporation [EGO]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Eldorado Gold Corporation [EGO] shares currently have an operating margin of +25.75 and a Gross Margin at +29.63. Eldorado Gold Corporation’s Net Margin is presently recorded at +10.16.

Return on Total Capital for EGO is now 6.78, given the latest momentum, and Return on Invested Capital for the company is 2.76. Return on Equity for this stock inclined to 3.10, with Return on Assets sitting at 2.29. When it comes to the capital structure of this company, Eldorado Gold Corporation [EGO] has a Total Debt to Total Equity ratio set at 14.58. Additionally, EGO Total Debt to Total Capital is recorded at 12.72, with Total Debt to Total Assets ending up at 10.76. Long-Term Debt to Equity for the company is recorded at 12.42, with the Long-Term Debt to Total Capital now at 10.84.

Receivables Turnover for the company is 18.32 with a Total Asset Turnover recorded at a value of 0.23.Eldorado Gold Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 4.30.

Eldorado Gold Corporation [EGO]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EGO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Eldorado Gold Corporation go to -3.01%.

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An analysis of insider ownership at Eldorado Gold Corporation [EGO]

There are presently around $946 million, or 75.80% of EGO stock, in the hands of institutional investors. The top three institutional holders of EGO stocks are: HELIKON INVESTMENTS LTD with ownership of 22,306,025, which is approximately 15.639% of the company’s market cap and around 0.80% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 17,647,116 shares of the stock with an approximate value of $161.29 million in EGO stocks shares; and BLACKROCK INC., currently with $94.27 million in EGO stock with ownership of nearly -0.823% of the company’s market capitalization.

Positions in Eldorado Gold Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 49 institutional holders increased their position in Eldorado Gold Corporation [NYSE:EGO] by around 13,425,492 shares. Additionally, 75 investors decreased positions by around 9,509,626 shares, while 21 investors held positions by with 80,578,780 shares. The mentioned changes placed institutional holdings at 103,513,898 shares, according to the latest SEC report filing. EGO stock had 11 new institutional investments in for a total of 133,952 shares, while 21 institutional investors sold positions of 2,377,371 shares during the same period.