Desjardins downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a sell rating in a report published on Monday morning. Desjardins also issued estimates for Eldorado Gold’s Q4 2018 earnings at $0.00 EPS.
EGO has been the subject of a number of other reports. TD Securities dropped 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. Zacks Investment Research upgraded Eldorado Gold from a strong sell rating to a hold rating in a research report on Tuesday, December 26th. 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, April 4th. CIBC upgraded Eldorado Gold from a sector underperform rating to a neutral rating and dropped their price target for the company from $1.70 to $1.30 in a research report on Thursday, April 5th. Finally, Bank of America lowered Eldorado Gold from a neutral rating to an underperform rating and set a $1.00 price objective for the company. in a research report on Friday. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $1.25.
EGO stock opened at $0.97 on Monday. The company has a quick ratio of 4.98, a current ratio of 6.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $747.16, a PE ratio of 48.50, a P/E/G ratio of 18.82 and a beta of 1.38. Eldorado Gold has a 1 year low of $0.80 and a 1 year high of $3.76.
A number of institutional investors have recently modified their holdings of EGO. Compagnie Lombard Odier SCmA grew its position in Eldorado Gold by 1,830.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 3,908,200 shares of the basic materials company’s stock worth $5,677,000 after acquiring an additional 3,705,700 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in Eldorado Gold by 78.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 7,585,136 shares of the basic materials company’s stock worth $10,847,000 after acquiring an additional 3,341,481 shares during the period. BlueCrest Capital Management Ltd grew its position in Eldorado Gold by 18,536.9% in the fourth quarter. BlueCrest Capital Management Ltd now owns 2,215,553 shares of the basic materials company’s stock worth $3,168,000 after acquiring an additional 2,203,665 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in Eldorado Gold in the fourth quarter worth approximately $2,530,000. Finally, Alps Advisors Inc. purchased a new position in Eldorado Gold in the fourth quarter worth approximately $2,438,000. Institutional investors own 51.61% of the company’s stock.
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About Eldorado Gold
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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