Wall Street Zen Downgrades Eldorado Gold (NYSE:EGO) to Hold

Key Points

• Eldorado Gold has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment regarding the stock's performance.
• The company's recent earnings report showed an EPS of $0.44, which fell short of the consensus estimate of $0.51, despite revenue exceeding expectations at $459.53 million.
• Currently, Eldorado Gold has a consensus rating of "Moderate Buy", with a target price set at $23.60, as per the data from MarketBeat.

Wall Street Zen downgraded shares of Eldorado Gold (NYSE:EGO - Free Report) TSE: ELD from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other analysts have also recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Scotiabank lifted their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Finally, National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Eldorado Gold currently has an average rating of "Moderate Buy" and an average target price of $23.60.

Eldorado Gold Trading Down 1.0%

Shares of Eldorado Gold stock traded down $0.23 on Friday, hitting $22.37. The stock had a trading volume of 1,224,927 shares, compared to its average volume of 1,975,392. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. Eldorado Gold has a one year low of $13.29 and a one year high of $23.58. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.36 and a beta of 0.37. The stock's 50-day simple moving average is $20.89 and its two-hundred day simple moving average is $18.23.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $459.53 million during the quarter, compared to the consensus estimate of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. As a group, sell-side analysts predict that Eldorado Gold will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in Eldorado Gold during the second quarter valued at $32,000. Continuum Advisory LLC raised its position in shares of Eldorado Gold by 335.3% in the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after purchasing an additional 1,945 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock worth $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Eldorado Gold by 142.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock worth $151,000 after purchasing an additional 5,294 shares during the last quarter. Finally, Tradition Wealth Management LLC purchased a new position in shares of Eldorado Gold in the 4th quarter worth about $153,000. Hedge funds and other institutional investors own 69.58% of the company's stock.

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.