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

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

Several other brokerages have also commented on EGO. Stifel Nicolaus reissued a hold rating on shares of Eldorado Gold in a report on Friday, January 26th. Stifel Canada lowered shares of Eldorado Gold from a buy rating to a hold rating in a research note on Friday, January 26th. TD Securities reduced their target price on Eldorado Gold from $14.50 to $13.00 and set a hold rating for the company in a report on Monday, February 26th. National Bank Financial restated an outperform spec overweight rating on shares of Eldorado Gold in a research report on Monday, April 8th. Finally, CIBC increased their price objective on Eldorado Gold from $16.50 to $18.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Eldorado Gold presently has a consensus rating of Hold and an average target price of $13.30.

Eldorado Gold Stock Performance

NYSE EGO opened at $14.94 on Friday. Eldorado Gold has a fifty-two week low of $8.30 and a fifty-two week high of $16.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.52 and a current ratio of 3.50. The firm has a market capitalization of $3.05 billion, a P/E ratio of 26.21, a PEG ratio of 4.90 and a beta of 1.12. The stock has a 50-day simple moving average of $13.82 and a two-hundred day simple moving average of $12.58.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. The firm had revenue of $257.97 million during the quarter. During the same period last year, the firm earned $0.11 earnings per share. On average, equities analysts forecast that Eldorado Gold will post 0.95 earnings per share for the current year.

Institutional Investors Weigh In On Eldorado Gold

A number of large investors have recently modified their holdings of the company. Parkside Financial Bank & Trust acquired a new position in Eldorado Gold in the fourth quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. purchased a new stake in Eldorado Gold in the fourth quarter valued at $37,000. Tobam acquired a new position in Eldorado Gold in the fourth quarter valued at $68,000. Atria Wealth Solutions Inc. purchased a new position in shares of Eldorado Gold during the third quarter worth about $89,000. Finally, Bank of Nova Scotia lifted its holdings in shares of Eldorado Gold by 10.2% in the 3rd quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 1,343 shares during the last quarter. 69.58% 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 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.