Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a research note on Monday, October 15th. Canaccord Genuity reiterated a “hold” rating on shares of Eldorado Gold in a research note on Monday, October 22nd. National Bank Financial began coverage on shares of Eldorado Gold in a research note on Thursday, October 18th. They set an “outperform” rating for the company. Finally, TD Securities lowered shares of Eldorado Gold from a “hold” rating to a “reduce” rating and decreased their target price for the company from $1.15 to $0.80 in a research note on Thursday, September 6th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $1.11.
NYSE EGO traded up $0.02 during mid-day trading on Thursday, reaching $0.72. The stock had a trading volume of 2,873,362 shares, compared to its average volume of 4,619,567. Eldorado Gold has a 1 year low of $0.65 and a 1 year high of $1.47. The firm has a market cap of $525.08 million, a P/E ratio of 36.00 and a beta of 1.58. The company has a quick ratio of 5.59, a current ratio of 6.33 and a debt-to-equity ratio of 0.17.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Eldorado Gold had a negative return on equity of 0.27% and a negative net margin of 35.17%. The firm had revenue of $81.07 million during the quarter, compared to analysts’ expectations of $107.21 million. As a group, equities analysts expect that Eldorado Gold will post -0.01 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Chicago Capital LLC bought a new stake in shares of Eldorado Gold during the 2nd quarter valued at $111,000. Cubist Systematic Strategies LLC bought a new stake in shares of Eldorado Gold during the 1st quarter valued at $280,000. Russell Investments Group Ltd. grew its position in shares of Eldorado Gold by 479.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 346,881 shares of the basic materials company’s stock valued at $343,000 after acquiring an additional 287,028 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Eldorado Gold by 165.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 512,250 shares of the basic materials company’s stock valued at $509,000 after acquiring an additional 319,046 shares during the period. Finally, Global X Management Co LLC grew its position in shares of Eldorado Gold by 14.9% during the 2nd quarter. Global X Management Co LLC now owns 1,001,392 shares of the basic materials company’s stock valued at $1,012,000 after acquiring an additional 129,760 shares during the period. 40.53% 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 exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and Tocantinzinho gold project in Brazil.
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