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

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other equities research analysts also recently commented on EGO. TD Securities decreased their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. Scotiabank reduced their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Eldorado Gold Trading Down 8.7 %

NYSE EGO opened at $13.40 on Thursday. Eldorado Gold has a 12-month low of $9.72 and a 12-month high of $19.06. The company has a fifty day simple moving average of $15.01 and a two-hundred day simple moving average of $16.27. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.75 billion, a P/E ratio of 10.00 and a beta of 0.93.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. On average, analysts forecast that Eldorado Gold will post 1.49 earnings per share for the current year.

Institutional Trading of Eldorado Gold

A number of hedge funds have recently modified their holdings of EGO. Blue Trust Inc. lifted its holdings in Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,336 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Eldorado Gold by 33.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 202,000 shares of the basic materials company’s stock valued at $3,515,000 after purchasing an additional 50,500 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Eldorado Gold in the 3rd quarter valued at $394,000. Financial Management Professionals Inc. purchased a new stake in Eldorado Gold during the third quarter worth $32,000. Finally, Versor Investments LP grew its position in Eldorado Gold by 7.0% during the third quarter. Versor Investments LP now owns 60,014 shares of the basic materials company’s stock valued at $1,043,000 after buying an additional 3,900 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.