Eldorado Gold (NYSE:EGO) Rating Lowered to Hold at Wall Street Zen

Key Points

• Eldorado Gold's rating has been downgraded from "buy" to "hold" by Wall Street Zen analysts in a recent research report.
• Despite the downgrade, other analysts maintain a more positive outlook, with CIBC raising its price objective significantly from $32 to $46 and retaining an "outperformer" rating.
• Eldorado Gold reported earnings of $0.44 per share for the last quarter, which fell short of expectations, although it exceeded revenue forecasts with $459.53 million.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Several other research analysts have also recently issued reports on the company. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. CIBC increased their price objective on Eldorado Gold from $32.00 to $46.00 and gave the stock an "outperformer" rating in a research note on Friday. Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Eldorado Gold in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.40.

Eldorado Gold Trading Up 0.8%

EGO opened at $27.57 on Friday. Eldorado Gold has a one year low of $13.29 and a one year high of $30.00. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 0.41 and a beta of 0.44. The stock's 50 day moving average price is $25.83 and its 200-day moving average price is $21.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data 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). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%.The firm had revenue of $459.53 million during the quarter, compared to the consensus estimate of $401.85 million. On average, equities analysts forecast that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Trading of Eldorado Gold

Several hedge funds and other institutional investors have recently made changes to their positions in EGO. Caitong International Asset Management Co. Ltd purchased a new position in shares of Eldorado Gold during the 2nd quarter valued at about $32,000. Headlands Technologies LLC purchased a new position in shares of Eldorado Gold during the 2nd quarter valued at about $32,000. Continuum Advisory LLC raised its stake in shares of Eldorado Gold by 335.3% during the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after buying an additional 1,945 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Eldorado Gold by 35.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company's stock valued at $46,000 after buying an additional 587 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Eldorado Gold during the 2nd quarter valued at about $58,000. 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.

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