Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “

Several other brokerages have also issued reports on EGO. TD Securities set a $4.00 target price on shares of Eldorado Gold and gave the company a “buy” rating in a research report on Friday, October 20th. Royal Bank of Canada lowered shares of Eldorado Gold from an “outperform” rating to a “hold” rating and dropped their target price for the company from $3.00 to $1.75 in a research report on Tuesday, October 24th. Scotiabank set a $2.00 target price on shares of Eldorado Gold and gave the company a “sector perform” rating in a research report on Friday, November 17th. JPMorgan Chase & Co. lowered shares of Eldorado Gold from an “overweight” rating to a “neutral” rating in a research report on Monday, November 13th. Finally, Macquarie lowered shares of Eldorado Gold from an “outperform” rating to a “neutral” rating in a research report on Tuesday, September 12th. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $1.98.

Shares of Eldorado Gold (EGO) traded up $0.01 during trading hours on Wednesday, reaching $1.27. 8,355,500 shares of the company traded hands, compared to its average volume of 8,250,000. The stock has a market capitalization of $995.41, a PE ratio of -127.00, a P/E/G ratio of 5.83 and a beta of 1.12. Eldorado Gold has a 12 month low of $1.10 and a 12 month high of $3.91. The company has a current ratio of 7.80, a quick ratio of 6.16 and a debt-to-equity ratio of 0.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter. Eldorado Gold had a negative net margin of 5.02% and a positive return on equity of 0.51%. The company had revenue of $95.35 million for the quarter, compared to the consensus estimate of $100.63 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in EGO. Balyasny Asset Management LLC lifted its holdings in shares of Eldorado Gold by 43.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 13,889 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Eldorado Gold by 608.4% in the 3rd quarter. Virtu Financial LLC now owns 242,068 shares of the basic materials company’s stock worth $147,000 after acquiring an additional 207,899 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Eldorado Gold by 2.9% in the 2nd quarter. Advisor Group Inc. now owns 67,710 shares of the basic materials company’s stock worth $175,000 after acquiring an additional 1,882 shares during the last quarter. Fore Research & Management LP bought a new stake in shares of Eldorado Gold in the 2nd quarter worth approximately $237,000. Finally, ARP Americas LLC lifted its holdings in shares of Eldorado Gold by 59.0% in the 3rd quarter. ARP Americas LLC now owns 144,500 shares of the basic materials company’s stock worth $318,000 after acquiring an additional 53,600 shares during the last quarter. Hedge funds and other institutional investors own 52.90% of the company’s stock.

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About Eldorado Gold

Eldorado Gold Corp is a Canada-based gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, the Tocantinzinho project and exploration activities in Brazil.

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