Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by research analysts at CIBC from a “sector underperform” rating to a “neutral” rating in a report released on Thursday, MarketBeat.com reports. The brokerage currently has a $1.30 price target on the basic materials company’s stock, down from their prior price target of $1.70. CIBC’s price objective would indicate a potential upside of 33.18% from the stock’s previous close.
Several other brokerages have also recently weighed in on EGO. Credit Suisse Group set a $1.00 price target on Eldorado Gold and gave the company a “hold” rating in a research report on Wednesday. TD Securities reduced their price target on Eldorado Gold from $1.60 to $1.20 and set a “hold” rating for the company in a research report on Friday, March 23rd. Scotiabank reduced their price target on Eldorado Gold from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Friday, March 23rd. Zacks Investment Research upgraded Eldorado Gold from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, ValuEngine cut Eldorado Gold from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $1.30.
Shares of EGO opened at $0.98 on Thursday. The firm has a market capitalization of $738.43, a price-to-earnings ratio of 48.81, a PEG ratio of 12.40 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.98 and a current ratio of 6.46. Eldorado Gold has a 1 year low of $0.80 and a 1 year high of $3.78.
A number of institutional investors have recently bought and sold shares of EGO. Tower Research Capital LLC TRC grew its position in Eldorado Gold by 4,078.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 63,304 shares of the basic materials company’s stock worth $115,000 after buying an additional 61,789 shares in the last quarter. Virtu Financial LLC grew its position in Eldorado Gold by 608.4% during the third quarter. Virtu Financial LLC now owns 242,068 shares of the basic materials company’s stock worth $147,000 after buying an additional 207,899 shares in the last quarter. OTA Financial Group L.P. purchased a new position in Eldorado Gold during the fourth quarter worth about $200,000. Two Sigma Securities LLC grew its position in Eldorado Gold by 133.5% during the fourth quarter. Two Sigma Securities LLC now owns 164,139 shares of the basic materials company’s stock worth $235,000 after buying an additional 93,849 shares in the last quarter. Finally, AMP Capital Investors Ltd grew its position in Eldorado Gold by 72.7% during the third quarter. AMP Capital Investors Ltd now owns 167,521 shares of the basic materials company’s stock worth $367,000 after buying an additional 70,500 shares in the last quarter. Institutional investors and hedge funds own 51.61% of the company’s stock.
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Eldorado Gold Company Profile
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 also explores for iron, silver, lead, and zinc. It holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; 95% interests in Olympias and Skouries, and 100% interests in Perama Hill gold projects in Greece; 81% interests in Certej gold project in Romania; 100% interests in Tocantinzinho gold project in Brazil; 95% interests in Stratoni lead and zinc mines in Greece; and 100% interests in Vila Nova iron ore mine in Brazil.
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