Eldorado Gold (NYSE:EGO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Eldorado Gold (NYSE:EGO - Free Report) TSE: ELD from a buy rating to a hold rating in a research report report published on Thursday.

Other equities analysts also recently issued reports about the stock. TD Securities dropped their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. Scotiabank dropped their target price on Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.00.

Eldorado Gold Stock Up 5.3 %

NYSE EGO traded up $0.71 during trading on Thursday, reaching $14.12. 2,868,980 shares of the company's stock were exchanged, compared to its average volume of 1,831,236. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. Eldorado Gold has a fifty-two week low of $10.03 and a fifty-two week high of $19.06. The company's fifty day simple moving average is $15.01 and its 200-day simple moving average is $16.28. The firm has a market capitalization of $2.89 billion, a PE ratio of 10.08 and a beta of 0.93.

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Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13. The business had revenue of $435.70 million during the quarter, compared to analysts' expectations of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. Sell-side analysts predict that Eldorado Gold will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors have recently modified their holdings of the company. Jennison Associates LLC grew its stake in Eldorado Gold by 17.5% in the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company's stock valued at $105,431,000 after buying an additional 1,058,137 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Eldorado Gold by 130.5% in the third quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company's stock worth $2,885,000 after acquiring an additional 94,040 shares during the last quarter. JPMorgan Chase & Co. increased its position in Eldorado Gold by 130.7% during the third quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company's stock worth $2,607,000 after acquiring an additional 85,053 shares during the period. Navellier & Associates Inc. acquired a new position in Eldorado Gold during the 3rd quarter valued at $878,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Eldorado Gold by 33.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 202,000 shares of the basic materials company's stock worth $3,515,000 after purchasing an additional 50,500 shares during the period. Institutional investors own 69.58% of the company's stock.

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.