Eldorado Gold (NYSE:EGO) Upgraded to “Hold” at Zacks Research

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

EGO has been the subject of a number of other research reports. BMO Capital Markets reissued an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 15th. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. Citigroup lowered Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. Weiss Ratings cut Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Finally, TD Securities lowered their price target on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Eldorado Gold currently has an average rating of “Hold” and an average price target of $44.50.

Eldorado Gold Trading Down 0.1%

NYSE EGO opened at $31.08 on Monday. Eldorado Gold has a 52 week low of $19.62 and a 52 week high of $51.16. The company has a 50 day moving average price of $31.91 and a 200 day moving average price of $36.65. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.27. The firm has a market cap of $8.12 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.18 and a beta of 0.58.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The company had revenue of $532.43 million during the quarter, compared to the consensus estimate of $503.31 million. As a group, sell-side analysts forecast that Eldorado Gold will post 4.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds have recently made changes to their positions in EGO. Gabelli Funds LLC boosted its holdings in Eldorado Gold by 11.8% in the third quarter. Gabelli Funds LLC now owns 1,342,600 shares of the basic materials company’s stock valued at $38,788,000 after purchasing an additional 141,900 shares during the last quarter. TT International Asset Management LTD raised its stake in shares of Eldorado Gold by 1,730.9% during the 4th quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock valued at $26,916,000 after buying an additional 710,290 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Eldorado Gold by 94.9% in the 3rd quarter. Schroder Investment Management Group now owns 1,448,558 shares of the basic materials company’s stock valued at $41,240,000 after buying an additional 705,140 shares during the period. American Century Companies Inc. boosted its stake in shares of Eldorado Gold by 36.5% in the third quarter. American Century Companies Inc. now owns 1,565,341 shares of the basic materials company’s stock worth $45,207,000 after buying an additional 418,982 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of Eldorado Gold in the fourth quarter worth about $3,214,000. 69.58% of the stock is owned by institutional investors and hedge funds.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.