Eldorado Gold (EGO) Downgraded by TD Securities to Reduce

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TD Securities downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a reduce rating in a research note published on Thursday, MarketBeat Ratings reports. TD Securities currently has $0.80 target price on the basic materials company’s stock, down from their previous target price of $1.15.

Separately, ValuEngine upgraded shares of Eldorado Gold from a strong sell rating to a sell rating in a research report on Saturday, June 2nd. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $1.14.

Shares of EGO stock traded up $0.02 during midday trading on Thursday, reaching $0.88. 32,960 shares of the company traded hands, compared to its average volume of 3,916,821. Eldorado Gold has a 1-year low of $0.80 and a 1-year high of $2.44. The company has a current ratio of 7.19, a quick ratio of 5.59 and a debt-to-equity ratio of 0.16. The company has a market cap of $730.57 million, a price-to-earnings ratio of 42.99, a PEG ratio of 18.40 and a beta of 1.27.

Several hedge funds have recently bought and sold shares of EGO. Wells Fargo & Company MN increased its stake in shares of Eldorado Gold by 8.6% during the 1st quarter. Wells Fargo & Company MN now owns 1,605,645 shares of the basic materials company’s stock worth $1,348,000 after purchasing an additional 127,408 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Eldorado Gold by 140.0% during the 1st quarter. CIBC Asset Management Inc now owns 1,166,956 shares of the basic materials company’s stock worth $977,000 after purchasing an additional 680,660 shares in the last quarter. Intact Investment Management Inc. increased its stake in shares of Eldorado Gold by 41.1% during the 1st quarter. Intact Investment Management Inc. now owns 13,484,700 shares of the basic materials company’s stock worth $14,429,000 after purchasing an additional 3,930,600 shares in the last quarter. BlackRock Inc. increased its stake in shares of Eldorado Gold by 1.3% during the 1st quarter. BlackRock Inc. now owns 7,375,118 shares of the basic materials company’s stock worth $6,195,000 after purchasing an additional 93,219 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of Eldorado Gold by 32.8% during the 1st quarter. OppenheimerFunds Inc. now owns 2,353,511 shares of the basic materials company’s stock worth $1,977,000 after purchasing an additional 581,700 shares in the last quarter. Institutional investors own 39.14% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and Tocantinzinho gold project in Brazil.

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Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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