National Bank Financial upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a sector perform rating to an outperform rating in a research note released on Thursday morning, Briefing.com Automated Import reports.
Other research analysts have also recently issued research reports about the stock. CIBC raised shares of Eldorado Gold from an underperform rating to a neutral rating in a research report on Wednesday, July 10th. GMP Securities cut shares of Eldorado Gold from a buy rating to a hold rating in a research report on Tuesday, July 23rd. ValuEngine cut shares of Eldorado Gold from a hold rating to a sell rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised shares of Eldorado Gold from an underweight rating to a neutral rating and set a $6.00 target price on the stock in a research report on Wednesday, June 26th. Finally, TD Securities upped their target price on shares of Eldorado Gold from $7.00 to $9.00 and gave the company a hold rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Eldorado Gold presently has an average rating of Hold and a consensus target price of $6.71.
Shares of EGO stock traded down $0.40 on Thursday, hitting $8.27. 489,612 shares of the stock traded hands, compared to its average volume of 3,540,234. The firm’s 50-day moving average price is $8.64 and its two-hundred day moving average price is $5.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.37 and a current ratio of 2.20. The stock has a market capitalization of $1.38 billion, a PE ratio of -48.88, a PEG ratio of 9.04 and a beta of 1.91. Eldorado Gold has a twelve month low of $2.52 and a twelve month high of $10.09.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Inc. lifted its position in Eldorado Gold by 65.9% in the second quarter. Advisor Group Inc. now owns 6,043 shares of the basic materials company’s stock valued at $35,000 after buying an additional 2,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Eldorado Gold during the second quarter worth about $51,000. Man Group plc purchased a new stake in Eldorado Gold during the second quarter worth about $80,000. King Luther Capital Management Corp purchased a new stake in Eldorado Gold during the first quarter worth about $94,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Eldorado Gold during the first quarter worth about $185,000. 46.74% of the stock is currently owned by institutional investors.
About Eldorado Gold
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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