Eldorado Gold (NYSE:EGO) Rating Lowered to Hold at Wall Street Zen

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other brokerages also recently issued reports on EGO. Royal Bank of Canada upped their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 23rd. Canaccord Genuity Group reduced their price target on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Finally, Scotiabank upped their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.70.

Eldorado Gold Stock Down 1.8%

Shares of NYSE EGO opened at $19.44 on Wednesday. The firm’s 50-day simple moving average is $18.06 and its 200 day simple moving average is $16.21. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 13.89 and a beta of 0.42. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. Eldorado Gold has a 12-month low of $13.29 and a 12-month high of $20.65.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of $341.59 million for the quarter, compared to analyst estimates of $319.83 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. On average, research analysts expect that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently modified their holdings of the business. TD Waterhouse Canada Inc. raised its stake in shares of Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after buying an additional 682 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Eldorado Gold by 0.3% during the fourth quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock worth $3,737,000 after buying an additional 804 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eldorado Gold by 0.7% during the fourth 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 worth $2,664,000 after buying an additional 1,174 shares during the last quarter. LaSalle St. Investment Advisors LLC raised its stake in shares of Eldorado Gold by 7.0% during the first quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company’s stock worth $329,000 after buying an additional 1,275 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Eldorado Gold by 4.7% during the fourth quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock worth $496,000 after buying an additional 1,500 shares during the last quarter. 69.58% of the stock is owned by institutional investors.

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.