StockNews.com Downgrades Eldorado Gold (NYSE:EGO) to Hold

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

EGO has been the subject of several other reports. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Scotiabank cut their target price on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Eldorado Gold presently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

Eldorado Gold Stock Down 8.6 %

Shares of EGO stock opened at $16.17 on Wednesday. Eldorado Gold has a 1 year low of $13.29 and a 1 year high of $19.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The business’s fifty day moving average is $15.10 and its 200-day moving average is $15.93. The stock has a market cap of $3.31 billion, a PE ratio of 11.55 and a beta of 0.81.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $440.43 million. Equities analysts expect that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. increased its stake in shares of Eldorado Gold by 26.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Eldorado Gold during the fourth quarter worth approximately $55,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Eldorado Gold during the fourth quarter valued at approximately $113,000. Tradition Wealth Management LLC acquired a new stake in shares of Eldorado Gold in the fourth quarter worth $153,000. Finally, Envestnet Asset Management Inc. acquired a new position in Eldorado Gold in the 4th quarter valued at $183,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.