Eldorado Gold (NYSE:EGO) Rating Lowered to "Hold" at ATB Cormark Capital Markets

Key Points

• ATB Cormark Capital Markets has downgraded Eldorado Gold from a "moderate buy" to a "hold", and multiple other brokers have trimmed ratings — the stock's consensus analyst rating is Hold with a $44.50 consensus price target.
• Eldorado beat quarterly expectations, reporting EPS of $0.95 versus a $0.69 estimate and revenue of $532.43M (versus $503.31M), with a net margin of 28.62%.
• Shares opened at $28.74 (down ~3.7%) with a $5.71B market cap, trading well below the $44.50 consensus target, and about 69.6% of stock is held by institutional investors.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD was downgraded by equities researchers at ATB Cormark Capital Markets from a "moderate buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also issued reports on EGO. Canaccord Genuity Group lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Friday, February 20th. Scotiabank cut their target price on shares of Eldorado Gold from $58.00 to $56.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 21st. Citigroup lowered shares of Eldorado Gold to a "sector perform" rating in a research note on Monday. Zacks Research lowered shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 29th. Finally, Canadian Imperial Bank of Commerce lowered shares of Eldorado Gold from a "sector outperform" rating to a "neutral" rating and set a $54.00 target price on the stock. in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $44.50.

Eldorado Gold Stock Down 3.7%

Shares of NYSE EGO opened at $28.74 on Monday. The firm has a market cap of $5.71 billion, a PE ratio of 10.23, a P/E/G ratio of 0.17 and a beta of 0.56. Eldorado Gold has a 12-month low of $17.18 and a 12-month high of $51.16. The company's fifty day simple moving average is $36.62 and its 200 day simple moving average is $35.58. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.26. The business had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.72%. As a group, sell-side analysts forecast that Eldorado Gold will post 4.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of Eldorado Gold in the second quarter valued at about $32,000. Smartleaf Asset Management LLC purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at about $33,000. Aventura Private Wealth LLC purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at about $36,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at about $36,000. Finally, Wexford Capital LP bought a new position in Eldorado Gold during the third quarter valued at about $37,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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