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

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

EGO has been the subject of a number of other reports. CIBC reissued an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Scotiabank increased 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. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Finally, Canaccord Genuity Group reduced their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Eldorado Gold Trading Down 2.1%

NYSE:EGO opened at $22.60 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. The firm has a 50-day moving average of $20.89 and a 200-day moving average of $18.18. The company has a market cap of $4.59 billion, a PE ratio of 11.36, a PEG ratio of 0.37 and a beta of 0.37. Eldorado Gold has a one year low of $13.29 and a one year high of $23.58.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. The business had revenue of $459.53 million for the quarter, compared to the consensus estimate of $401.85 million. As a group, equities research analysts expect that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

A number of large investors have recently modified their holdings of the stock. D.A. Davidson & CO. purchased a new position in Eldorado Gold during the 1st quarter valued at about $374,000. Allspring Global Investments Holdings LLC lifted its position in Eldorado Gold by 11.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company’s stock valued at $4,242,000 after acquiring an additional 25,000 shares during the period. ANTIPODES PARTNERS Ltd lifted its position in Eldorado Gold by 43.5% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company’s stock valued at $63,970,000 after acquiring an additional 1,152,909 shares during the period. Alliancebernstein L.P. lifted its position in Eldorado Gold by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock valued at $496,000 after acquiring an additional 1,500 shares during the period. Finally, Cerity Partners LLC purchased a new position in Eldorado Gold during the 4th quarter valued at about $287,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.