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

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued research reports about the company. TD Securities cut their price objective on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Stifel Nicolaus restated a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. CIBC raised their price objective on shares of Eldorado Gold from $16.50 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. National Bank Financial reissued an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. Finally, Stifel Canada lowered Eldorado Gold from a “buy” rating to a “hold” rating 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.30.

Eldorado Gold Price Performance

NYSE EGO opened at $14.31 on Friday. Eldorado Gold has a 1 year low of $8.30 and a 1 year high of $16.07. The business’s fifty day moving average is $13.65 and its two-hundred day moving average is $12.50. The stock has a market capitalization of $2.92 billion, a P/E ratio of 25.11, a P/E/G ratio of 4.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.52 and a current ratio of 3.50.

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

Institutional Trading of Eldorado Gold

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Eldorado Gold by 2.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 70,132 shares of the basic materials company’s stock valued at $625,000 after buying an additional 1,630 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Eldorado Gold by 350.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 684,570 shares of the basic materials company’s stock valued at $6,108,000 after acquiring an additional 532,453 shares during the last quarter. TD Asset Management Inc grew its position in Eldorado Gold by 4.8% in the third quarter. TD Asset Management Inc now owns 529,163 shares of the basic materials company’s stock worth $4,744,000 after acquiring an additional 24,061 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Eldorado Gold by 13.0% during the 3rd quarter. CIBC Asset Management Inc now owns 193,188 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 22,292 shares during the last quarter. Finally, Helikon Investments Ltd raised its holdings in shares of Eldorado Gold by 1.7% during the 3rd quarter. Helikon Investments Ltd now owns 29,438,478 shares of the basic materials company’s stock valued at $262,297,000 after purchasing an additional 501,488 shares in the last quarter. 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.