Bank of America Initiates Coverage on Eldorado Gold (NYSE:EGO)

Analysts at Bank of America started coverage on shares of Eldorado Gold (NYSE:EGO – Get Rating) (TSE:ELD) in a research report issued on Friday, The Fly reports. The brokerage set an “underperform” rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus decreased their price objective on shares of Eldorado Gold from C$17.00 to C$16.50 in a report on Wednesday, November 23rd. StockNews.com upgraded shares of Eldorado Gold from a “sell” rating to a “hold” rating in a research note on Friday, February 24th. National Bank Financial decreased their price target on shares of Eldorado Gold from C$14.00 to C$13.50 in a research note on Tuesday, February 28th. Finally, TD Securities reduced their price objective on shares of Eldorado Gold from $11.00 to $10.50 and set a “hold” rating for the company in a research report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Eldorado Gold currently has a consensus rating of “Hold” and an average price target of $12.75.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $9.12 on Friday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -4.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.00 and a quick ratio of 2.06. Eldorado Gold has a 1 year low of $5.06 and a 1 year high of $12.49. The firm has a 50-day moving average of $9.10 and a two-hundred day moving average of $7.54.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new position in Eldorado Gold in the 4th quarter worth approximately $35,000. Optimum Investment Advisors bought a new stake in shares of Eldorado Gold during the fourth quarter valued at approximately $39,000. New York State Common Retirement Fund increased its position in shares of Eldorado Gold by 76.7% during the third quarter. New York State Common Retirement Fund now owns 8,883 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 3,857 shares during the period. Sargent Bickham Lagudis LLC bought a new stake in shares of Eldorado Gold during the third quarter valued at approximately $64,000. Finally, Prelude Capital Management LLC bought a new stake in shares of Eldorado Gold during the second quarter valued at approximately $78,000. 57.64% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Company Profile

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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.