Eldorado Gold (NYSE:EGO) Stock Rating Lowered by Zacks Research

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on EGO. TD Cowen cut their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Bank of America boosted their price target on shares of Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. ATB Cormark Capital Markets cut shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Royal Bank Of Canada reduced their price objective on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. Finally, Scotiabank lowered their price objective on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.83.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $31.93 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. The business has a 50 day simple moving average of $31.36 and a 200-day simple moving average of $35.89. Eldorado Gold has a 12 month low of $20.39 and a 12 month high of $51.16. The stock has a market capitalization of $8.34 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.22 and a beta of 0.62.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The firm had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. Equities analysts predict that Eldorado Gold will post 3.41 earnings per share for the current year.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently modified their holdings of the company. TT International Asset Management LTD boosted its position in Eldorado Gold by 1,730.9% during the fourth quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock worth $26,916,000 after purchasing an additional 710,290 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Eldorado Gold in the fourth quarter valued at $3,214,000. U S Global Investors Inc. acquired a new position in shares of Eldorado Gold during the 4th quarter worth $1,796,000. Burney Co. acquired a new position in shares of Eldorado Gold during the 4th quarter worth $2,506,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Eldorado Gold by 41.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 786,300 shares of the basic materials company’s stock worth $28,261,000 after buying an additional 232,000 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.