Eldorado Gold (NYSE:EGO) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Eldorado Gold (NYSE:EGO – Get Rating) (TSE:ELD) in a research note issued on Thursday. The firm set a “hold” rating on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on EGO. TD Securities dropped their target price on shares of Eldorado Gold from $11.00 to $10.50 and set a “hold” rating for the company in a research report on Monday, February 27th. National Bank Financial dropped their target price on shares of Eldorado Gold from C$14.00 to C$13.50 in a research report on Tuesday, February 28th. Stifel Nicolaus dropped their target price on shares of Eldorado Gold from C$17.00 to C$16.50 in a research report on Wednesday, November 23rd. Finally, Bank of America began coverage on shares of Eldorado Gold in a research report on Friday, March 10th. They set an “underperform” rating and a $8.90 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Eldorado Gold has an average rating of “Hold” and an average target price of $11.98.

Eldorado Gold Trading Down 1.5 %

Shares of Eldorado Gold stock opened at $9.58 on Thursday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -5.04 and a beta of 1.27. The company has a quick ratio of 2.06, a current ratio of 3.00 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $9.15 and a 200 day simple moving average of $7.60. Eldorado Gold has a 12-month low of $5.06 and a 12-month high of $12.49.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Helikon Investments Ltd increased its position in Eldorado Gold by 5.5% in the 4th quarter. Helikon Investments Ltd now owns 23,372,220 shares of the basic materials company’s stock valued at $195,392,000 after acquiring an additional 1,216,492 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Eldorado Gold by 0.6% in the 4th quarter. Van ECK Associates Corp now owns 19,908,728 shares of the basic materials company’s stock valued at $166,437,000 after purchasing an additional 120,558 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Eldorado Gold by 1.4% in the 1st quarter. BlackRock Inc. now owns 10,321,583 shares of the basic materials company’s stock valued at $115,706,000 after purchasing an additional 141,298 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of Eldorado Gold by 16.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 9,813,620 shares of the basic materials company’s stock valued at $59,176,000 after purchasing an additional 1,391,686 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Eldorado Gold by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,261,799 shares of the basic materials company’s stock valued at $37,758,000 after purchasing an additional 175,914 shares during the last quarter. Institutional investors and hedge funds own 57.64% of the company’s stock.

About Eldorado Gold

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Eldorado Gold Corp. engages in the mining, development and exploration of gold. It has mining operations, ongoing development projects and exploration in Turkey, Canada, Greece, Brazil, Romania and Serbia. The company was founded by Richard J. Barclay, Marco Antonio Romero, and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.