Eldorado Gold (NYSE:EGO) Shares Gap Down to $15.04

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) shares gapped down before the market opened on Monday . The stock had previously closed at $15.04, but opened at $14.40. Eldorado Gold shares last traded at $14.64, with a volume of 466,984 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EGO. TD Securities cut their price target on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating for the company in a research note on Monday, February 26th. National Bank Financial reissued an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. CIBC upped their price target on Eldorado Gold from $16.50 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Stifel Canada cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.30.

Eldorado Gold Trading Up 1.0 %

The firm has a market cap of $2.95 billion, a P/E ratio of 27.26, a P/E/G ratio of 6.34 and a beta of 1.10. The stock has a 50 day simple moving average of $13.07 and a 200-day simple moving average of $12.23. The company has a current ratio of 3.39, a quick ratio of 2.53 and a debt-to-equity ratio of 0.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. Eldorado Gold had a net margin of 10.54% and a return on equity of 3.56%. The company had revenue of $306.90 million for the quarter. On average, equities research analysts expect that Eldorado Gold Co. will post 0.77 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

Hedge funds have recently made changes to their positions in the business. Triasima Portfolio Management inc. bought a new stake in Eldorado Gold during the fourth quarter worth approximately $18,548,000. American Century Companies Inc. increased its position in shares of Eldorado Gold by 55.3% during the 3rd quarter. American Century Companies Inc. now owns 1,269,694 shares of the basic materials company’s stock valued at $11,322,000 after purchasing an additional 452,226 shares during the last quarter. Vanguard Group Inc. raised its holdings in Eldorado Gold by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,694,600 shares of the basic materials company’s stock valued at $59,649,000 after buying an additional 128,430 shares during the period. Swiss National Bank lifted its position in Eldorado Gold by 11.4% in the third quarter. Swiss National Bank now owns 448,320 shares of the basic materials company’s stock worth $4,034,000 after buying an additional 46,000 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in Eldorado Gold by 9.2% during the third quarter. Gabelli Funds LLC now owns 1,965,000 shares of the basic materials company’s stock worth $17,508,000 after buying an additional 165,700 shares during the period. 69.58% of the stock is currently 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.