Eldorado Gold (NYSE:EGO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a buy rating to a hold rating in a report published on Friday morning.

Several other research analysts have also weighed in on EGO. Scotiabank boosted their price objective on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. TD Securities lowered their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada boosted their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Eldorado Gold currently has an average rating of “Hold” and an average price target of $20.88.

Eldorado Gold Stock Down 6.6 %

Shares of EGO stock opened at $15.55 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. Eldorado Gold has a 1 year low of $9.72 and a 1 year high of $19.06. The firm’s fifty day moving average price is $17.29 and its two-hundred day moving average price is $16.42. The firm has a market capitalization of $3.19 billion, a P/E ratio of 11.60 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The firm had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts predict that Eldorado Gold will post 1.41 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Eldorado Gold by 130.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company’s stock worth $890,000 after buying an additional 35,820 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Eldorado Gold in the 2nd quarter valued at about $2,238,000. Maverick Capital Ltd. bought a new stake in Eldorado Gold in the 2nd quarter valued at about $1,256,000. Gabelli Funds LLC boosted its holdings in Eldorado Gold by 2.8% in the 1st quarter. Gabelli Funds LLC now owns 2,020,000 shares of the basic materials company’s stock valued at $28,421,000 after purchasing an additional 55,000 shares during the period. Finally, Equinox Partners Investment Management LLC boosted its holdings in Eldorado Gold by 32.0% in the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after purchasing an additional 239,800 shares during the period. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

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.