Eldorado Gold (EGO) Shares Gap Up to $0.72

Shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) gapped up before the market opened on Monday . The stock had previously closed at $0.70, but opened at $0.72. Eldorado Gold shares last traded at $0.72, with a volume of 67693 shares.

A number of analysts recently weighed in on the stock. ValuEngine raised shares of Eldorado Gold from a “sell” rating to a “hold” rating in a report on Thursday. TD Securities lowered their price target on shares of Eldorado Gold from $0.80 to $0.70 and set a “reduce” rating for the company in a report on Monday, October 29th. Zacks Investment Research lowered shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Friday, October 26th. Canaccord Genuity reissued a “hold” rating on shares of Eldorado Gold in a report on Monday, October 22nd. Finally, National Bank Financial assumed coverage on shares of Eldorado Gold in a report on Thursday, October 18th. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $1.11.

The company has a market cap of $571.69 million, a PE ratio of 36.50 and a beta of 1.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.79 and a current ratio of 6.33.

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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Eldorado Gold had a negative net margin of 35.17% and a negative return on equity of 0.27%. The business had revenue of $81.07 million during the quarter, compared to the consensus estimate of $107.21 million. As a group, equities analysts predict that Eldorado Gold Corp will post -0.01 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc boosted its stake in Eldorado Gold by 180.0% in the third quarter. CIBC Asset Management Inc now owns 1,412,649 shares of the basic materials company’s stock valued at $1,235,000 after acquiring an additional 908,214 shares during the last quarter. Bank of Montreal Can boosted its stake in Eldorado Gold by 41.7% in the third quarter. Bank of Montreal Can now owns 9,193,521 shares of the basic materials company’s stock valued at $8,119,000 after acquiring an additional 2,705,113 shares during the last quarter. Schroder Investment Management Group boosted its stake in Eldorado Gold by 22.6% in the second quarter. Schroder Investment Management Group now owns 5,149,397 shares of the basic materials company’s stock valued at $6,093,000 after acquiring an additional 950,413 shares during the last quarter. Global X Management Co LLC boosted its stake in Eldorado Gold by 14.9% in the second 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 last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Eldorado Gold by 26.0% in the second quarter. Cubist Systematic Strategies LLC now owns 420,255 shares of the basic materials company’s stock valued at $418,000 after acquiring an additional 86,696 shares during the last quarter. 40.12% of the stock is currently owned by hedge funds and other institutional investors.

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About Eldorado Gold (NYSE:EGO)

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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