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

StockNews.com cut shares of Eldorado Gold (NYSE:EGO - Free Report) TSE: ELD from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Other analysts have also issued reports about the company. National Bank Financial upgraded Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Scotiabank decreased their price target 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 research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Eldorado Gold currently has an average rating of "Moderate Buy" and an average price target of $19.75.

Eldorado Gold Stock Performance

EGO traded down $0.53 during trading on Wednesday, hitting $15.64. 3,572,309 shares of the company traded hands, compared to its average volume of 1,536,456. The stock's fifty day moving average is $15.11 and its 200 day moving average is $15.90. 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 one year low of $13.29 and a one year high of $19.06. The firm has a market cap of $3.20 billion, a P/E ratio of 11.17 and a beta of 0.81.

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

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its position in shares of Eldorado Gold by 2.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company's stock valued at $179,942,000 after acquiring an additional 309,599 shares during the last quarter. Vanguard Group Inc. lifted its position in Eldorado Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company's stock valued at $117,228,000 after purchasing an additional 136,594 shares during the last quarter. 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 worth $105,431,000 after buying an additional 1,058,137 shares in the last quarter. Carrhae Capital LLP increased its holdings in shares of Eldorado Gold by 13.9% in the 4th quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company's stock worth $89,826,000 after buying an additional 738,233 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Eldorado Gold by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company's stock valued at $73,927,000 after buying an additional 74,389 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

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.