Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report issued on Thursday, Zacks.com reports.
According to Zacks, "Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. "
Several other equities analysts also recently commented on EGO. TD Securities decreased their target price on Eldorado Gold from $13.00 to $12.00 and set a "hold" rating on the stock in a research report on Wednesday, August 4th. National Bank Financial decreased their target price on Eldorado Gold from C$18.50 to C$17.50 and set an "outperform" rating on the stock in a research report on Friday, September 10th. Finally, TheStreet downgraded Eldorado Gold from a "c" rating to a "d+" rating in a research report on Thursday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $15.20.
NYSE:EGO traded down $0.36 on Thursday, hitting $7.88. The company's stock had a trading volume of 2,079,261 shares, compared to its average volume of 1,830,383. The company has a current ratio of 2.88, a quick ratio of 2.15 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $8.75 and a two-hundred day moving average of $10.23. The firm has a market capitalization of $1.44 billion, a P/E ratio of 78.80, a price-to-earnings-growth ratio of 2.95 and a beta of 1.41. Eldorado Gold has a one year low of $7.86 and a one year high of $14.49.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, July 29th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The firm had revenue of $233.22 million for the quarter. Eldorado Gold had a return on equity of 4.49% and a net margin of 1.60%. As a group, sell-side analysts anticipate that Eldorado Gold will post 0.56 EPS for the current year.
A number of large investors have recently modified their holdings of EGO. Citigroup Inc. lifted its stake in Eldorado Gold by 99.9% during the first quarter. Citigroup Inc. now owns 2,399 shares of the basic materials company's stock worth $26,000 after purchasing an additional 1,199 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Eldorado Gold during the second quarter worth $55,000. Man Group plc bought a new stake in Eldorado Gold during the second quarter worth $105,000. NEXT Financial Group Inc lifted its stake in Eldorado Gold by 318.8% during the second quarter. NEXT Financial Group Inc now owns 11,298 shares of the basic materials company's stock worth $112,000 after purchasing an additional 8,600 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in Eldorado Gold during the second quarter worth $117,000. 54.46% of the stock is currently owned by institutional investors and hedge funds.
About Eldorado Gold
Eldorado Gold Corp. engages in the mining, development and exploration of gold. It has mining operations, ongoing development projects and exploration in Turkey, Canada, Greece, Brazil, Romania and Serbia. The company was founded by Richard J. Barclay, Marco Antonio Romero, and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.
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