Eldorado Gold (NYSE:EGO) Trading Down 7.1%

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) shares traded down 7.1% on Thursday . The stock traded as low as $7.22 and last traded at $7.36, 6,364,716 shares traded hands during mid-day trading. An increase of 137% from the average session volume of 2,684,148 shares. The stock had previously closed at $7.92.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. National Bank Financial raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating in a research note on Thursday, September 12th. ValuEngine cut shares of Eldorado Gold from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada began coverage on shares of Eldorado Gold in a research report on Wednesday. They set an “underperform” rating and a $6.50 target price on the stock. Finally, TD Securities increased their price target on shares of Eldorado Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.86.

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.26 and a quick ratio of 1.36. The firm has a market cap of $1.25 billion, a P/E ratio of -43.29, a PEG ratio of 10.12 and a beta of 1.84. The stock’s 50-day simple moving average is $7.94 and its two-hundred day simple moving average is $7.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). Eldorado Gold had a negative return on equity of 0.56% and a negative net margin of 44.10%. The firm had revenue of $172.26 million during the quarter. As a group, sell-side analysts expect that Eldorado Gold Corp will post 0.16 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of EGO. Advisor Group Inc. lifted its stake 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 worth $35,000 after purchasing an additional 2,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Eldorado Gold during the second quarter valued at approximately $51,000. Valeo Financial Advisors LLC purchased a new stake in shares of Eldorado Gold in the third quarter worth approximately $53,000. Man Group plc purchased a new stake in shares of Eldorado Gold in the second quarter worth approximately $80,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Eldorado Gold by 9,316.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the basic materials company’s stock worth $81,000 after acquiring an additional 10,341 shares during the last quarter. 50.09% of the stock is currently owned by institutional investors.

About Eldorado Gold (NYSE:EGO)

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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