Shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) gapped down before the market opened on Thursday . The stock had previously closed at $1.88, but opened at $0.99. Eldorado Gold shares last traded at $0.98, with a volume of 9779019 shares traded.
EGO has been the topic of a number of analyst reports. Macquarie raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 17th. ValuEngine lowered Eldorado Gold from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. CIBC upgraded Eldorado Gold from a “sector underperform” rating to a “neutral” rating and decreased their price target for the stock from $1.70 to $1.30 in a research note on Thursday, April 5th. Finally, Credit Suisse Group upgraded Eldorado Gold from an “underperform” rating to a “neutral” rating and set a $1.60 price target for the company in a research note on Friday, January 26th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $1.21.
The company has a market capitalization of $776.62, a P/E ratio of 49.00, a PEG ratio of 19.56 and a beta of 1.37. The company has a quick ratio of 4.98, a current ratio of 6.46 and a debt-to-equity ratio of 0.16.
A number of large investors have recently bought and sold shares of the stock. Hexavest Inc. grew its stake in Eldorado Gold by 3.0% in the fourth quarter. Hexavest Inc. now owns 19,030,386 shares of the basic materials company’s stock worth $27,340,000 after purchasing an additional 549,135 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake 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 purchasing an additional 3,341,481 shares in the last quarter. BlackRock Inc. boosted its stake in Eldorado Gold by 15.2% in the fourth quarter. BlackRock Inc. now owns 7,281,899 shares of the basic materials company’s stock valued at $10,414,000 after acquiring an additional 962,141 shares during the period. Bank of Montreal Can boosted its stake in Eldorado Gold by 10.1% in the fourth quarter. Bank of Montreal Can now owns 6,168,146 shares of the basic materials company’s stock valued at $8,821,000 after acquiring an additional 563,986 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Eldorado Gold by 31.4% in the fourth quarter. Allianz Asset Management GmbH now owns 5,298,885 shares of the basic materials company’s stock valued at $7,697,000 after acquiring an additional 1,264,715 shares during the period. Institutional investors and hedge funds 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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