Eldorado Gold (NYSE:EGO) Stock Price Down 2.9% - Here's What Happened

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD shares were down 2.9% during trading on Friday . The company traded as low as $20.98 and last traded at $20.89. Approximately 140,077 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,654,310 shares. The stock had previously closed at $21.51.

Analysts Set New Price Targets

EGO has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Canaccord Genuity Group lowered their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a report on Monday, May 5th. Scotiabank upped their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research report on Friday, March 21st. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $21.70.

Eldorado Gold Stock Down 1.0%

The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The firm's 50 day moving average price is $18.90 and its two-hundred day moving average price is $16.52. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 15.15 and a beta of 0.42.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). The business had revenue of $341.59 million for the quarter, compared to the consensus estimate of $319.83 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. Sell-side analysts anticipate that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TD Waterhouse Canada Inc. boosted its stake in shares of Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after buying an additional 682 shares during the period. CIBC Asset Management Inc increased its stake in Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company's stock worth $3,737,000 after acquiring an additional 804 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Eldorado Gold by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company's stock valued at $2,664,000 after acquiring an additional 1,174 shares in the last quarter. LaSalle St. Investment Advisors LLC raised its holdings in Eldorado Gold by 7.0% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company's stock valued at $329,000 after acquiring an additional 1,275 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Eldorado Gold by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock valued at $496,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 69.58% of the company's stock.

About Eldorado Gold

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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