CIBC upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from an underperform rating to a neutral rating in a research note issued to investors on Wednesday, The Fly reports.
Several other research firms have also weighed in on EGO. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a GBX 785 ($10.26) price objective on shares of in a research note on Wednesday, June 26th. Credit Suisse Group initiated coverage on New Gold in a research note on Tuesday, April 16th. They issued a neutral rating and a $1.00 price objective on the stock. ValuEngine raised WPP from a sell rating to a hold rating in a research note on Wednesday, June 19th. TD Securities reduced their price objective on Great Canadian Gaming from C$62.00 to C$56.00 and set a buy rating on the stock in a research note on Tuesday, May 7th. Finally, Zacks Investment Research raised IMI PLC/S from a sell rating to a hold rating in a research note on Wednesday, April 3rd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $5.01.
EGO opened at $6.99 on Wednesday. Eldorado Gold has a 52-week low of $2.52 and a 52-week high of $7.03. The company has a current ratio of 3.98, a quick ratio of 2.70 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $4.89.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, May 2nd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company had revenue of $80.02 million for the quarter, compared to analyst estimates of $113.85 million. Eldorado Gold had a negative return on equity of 1.40% and a negative net margin of 97.68%. Equities analysts forecast that Eldorado Gold will post 0.11 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of EGO. King Luther Capital Management Corp bought a new position in shares of Eldorado Gold during the first quarter worth about $94,000. Acadian Asset Management LLC bought a new position in shares of Eldorado Gold during the fourth quarter worth about $98,000. Two Sigma Investments LP bought a new position in shares of Eldorado Gold during the fourth quarter worth about $106,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Eldorado Gold during the first quarter worth about $185,000. Finally, Two Sigma Advisers LP bought a new position in shares of Eldorado Gold during the fourth quarter worth about $156,000. Hedge funds and other institutional investors own 41.47% of the company’s stock.
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 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 100% interest in Tocantinzinho gold project in Brazil.
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