Eldorado Gold (NYSE:EGO) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a buy rating to a hold rating in a research report released on Friday.

A number of other research analysts also recently issued reports on EGO. TD Securities cut their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Scotiabank lifted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Finally, Royal Bank of Canada increased their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Eldorado Gold currently has a consensus rating of “Hold” and an average price target of $20.88.

Eldorado Gold Stock Down 0.5 %

NYSE EGO traded down $0.09 during midday trading on Friday, hitting $16.65. 1,159,791 shares of the company traded hands, compared to its average volume of 1,696,646. Eldorado Gold has a 52 week low of $9.72 and a 52 week high of $19.06. The company’s 50-day simple moving average is $17.32 and its 200-day simple moving average is $16.39. The company has a market cap of $3.41 billion, a PE ratio of 12.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $331.76 million for the quarter. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. During the same period in the previous year, the business earned $0.17 EPS. As a group, equities research analysts forecast that Eldorado Gold will post 1.41 earnings per share for the current year.

Hedge Funds Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently modified their holdings of EGO. Jennison Associates LLC increased its holdings in Eldorado Gold by 65.0% in the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after acquiring an additional 2,376,241 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Eldorado Gold by 9.8% during the first quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock worth $196,261,000 after purchasing an additional 1,240,732 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Eldorado Gold during the first quarter worth about $11,431,000. Commonwealth Equity Services LLC acquired a new position in shares of Eldorado Gold during the 2nd quarter worth about $6,992,000. Finally, Jessup Wealth Management Inc purchased a new position in Eldorado Gold in the 2nd quarter valued at about $6,910,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.