Eldorado Gold (NYSE:EGO) Cut to "Hold" at StockNews.com

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Several other analysts have also issued reports on EGO. Scotiabank boosted their price objective on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a "sector perform" rating in a report on Monday, August 19th. Royal Bank of Canada upped their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, TD Securities dropped their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a "hold" rating for the company in a report on Monday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.88.

Eldorado Gold Trading Down 0.5 %

Eldorado Gold stock traded down $0.09 during midday trading on Friday, hitting $16.65. 1,141,607 shares of the stock were exchanged, compared to its average volume of 1,522,828. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 12.43 and a beta of 0.95. The stock's 50-day simple moving average is $17.33 and its 200 day simple moving average is $16.37. Eldorado Gold has a fifty-two week low of $9.72 and a fifty-two week high of $19.06.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $331.76 million for the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same period in the previous year, the firm posted $0.17 EPS. On average, equities analysts anticipate that Eldorado Gold will post 1.45 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EGO. SG Americas Securities LLC boosted its position in shares of Eldorado Gold by 59.6% during the 1st quarter. SG Americas Securities LLC now owns 22,303 shares of the basic materials company's stock worth $314,000 after acquiring an additional 8,326 shares in the last quarter. Vanguard Group Inc. lifted its position in Eldorado Gold by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company's stock valued at $95,858,000 after acquiring an additional 38,630 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in Eldorado Gold by 9.8% in the first quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company's stock valued at $196,261,000 after acquiring an additional 1,240,732 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Eldorado Gold by 20.9% during the first quarter. Hillsdale Investment Management Inc. now owns 2,137,927 shares of the basic materials company's stock worth $30,065,000 after purchasing an additional 369,127 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Eldorado Gold by 130.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company's stock worth $890,000 after buying an additional 35,820 shares during the period. Institutional investors and hedge funds 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.

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