Shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $0.62 and last traded at $0.63, with a volume of 92422 shares. The stock had previously closed at $0.66.
A number of brokerages recently issued reports on EGO. Zacks Investment Research downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. National Bank Financial began coverage on Eldorado Gold in a research report on Thursday, October 18th. They set an “outperform” rating for the company. Canaccord Genuity reissued a “hold” rating on shares of Eldorado Gold in a research report on Monday, October 22nd. TD Securities cut their price objective on Eldorado Gold from $0.80 to $0.70 and set a “reduce” rating for the company in a research report on Monday, October 29th. Finally, ValuEngine raised Eldorado Gold from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $1.11.
The stock has a market cap of $522.78 million, a price-to-earnings ratio of 31.00 and a beta of 1.58. The company has a quick ratio of 4.79, a current ratio of 6.33 and a debt-to-equity ratio of 0.17.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $81.07 million during the quarter, compared to analyst estimates of $107.21 million. Eldorado Gold had a negative net margin of 35.17% and a negative return on equity of 0.27%. On average, research analysts predict that Eldorado Gold Corp will post -0.01 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC World Markets Inc. grew its position in Eldorado Gold by 24.6% in the 3rd quarter. CIBC World Markets Inc. now owns 755,430 shares of the basic materials company’s stock valued at $667,000 after acquiring an additional 149,331 shares in the last quarter. CIBC Asset Management Inc grew its position in Eldorado Gold by 180.0% in the 3rd 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 in the last quarter. Bank of Montreal Can grew its position in Eldorado Gold by 41.7% in the 3rd 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 in the last quarter. Schroder Investment Management Group grew its position in Eldorado Gold by 22.6% in the 2nd 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 in the last quarter. Finally, Global X Management Co LLC grew its position in Eldorado Gold by 14.9% in 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 in the last quarter. 40.12% of the stock is owned by 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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