National Bank Financial upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a sector perform rating to an outperform rating in a research note issued to investors on Thursday, Briefing.com Automated Import reports.
A number of other analysts have also weighed in on EGO. GMP Securities lowered shares of Eldorado Gold from a buy rating to a hold rating in a research note on Tuesday, July 23rd. CIBC raised shares of Eldorado Gold from an underperform rating to a neutral rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised shares of Eldorado Gold from an underweight rating to a neutral rating and set a $6.00 price target for the company in a research note on Wednesday, June 26th. ValuEngine lowered shares of Eldorado Gold from a hold rating to a sell rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research raised shares of Eldorado Gold from a hold rating to a buy rating and set a $8.75 target price for the company in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Eldorado Gold presently has a consensus rating of Hold and an average target price of $6.71.
NYSE EGO opened at $8.29 on Thursday. Eldorado Gold has a 52 week low of $2.52 and a 52 week high of $10.09. The company has a current ratio of 2.20, a quick ratio of 1.37 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -48.76, a price-to-earnings-growth ratio of 9.37 and a beta of 1.91. The company has a 50-day moving average price of $8.65 and a two-hundred day moving average price of $5.70.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, August 1st. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Eldorado Gold had a negative return on equity of 1.42% and a negative net margin of 84.44%. The firm had revenue of $173.68 million during the quarter, compared to the consensus estimate of $170.76 million. As a group, equities research analysts expect that Eldorado Gold will post 0.22 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in EGO. Toronto Dominion Bank lifted its stake in Eldorado Gold by 7.4% during the first quarter. Toronto Dominion Bank now owns 353,829 shares of the basic materials company’s stock valued at $1,633,000 after purchasing an additional 24,408 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Eldorado Gold during the first quarter valued at approximately $1,732,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Eldorado Gold by 521.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,213,583 shares of the basic materials company’s stock valued at $5,605,000 after purchasing an additional 1,018,349 shares during the last quarter. King Luther Capital Management Corp acquired a new stake in Eldorado Gold during the first quarter valued at approximately $94,000. Finally, Donald Smith & CO. Inc. lifted its position in shares of Eldorado Gold by 104.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,103,511 shares of the basic materials company’s stock valued at $18,999,000 after acquiring an additional 2,099,175 shares in the last quarter. 46.72% of the stock is owned by institutional investors and hedge funds.
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 100% interest in Tocantinzinho gold project in Brazil.
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