Eldorado Gold (NYSE:EGO) Lowered to “Hold” Rating by Zacks Research

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

EGO has been the topic of several other research reports. Canaccord Genuity Group downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Canadian Imperial Bank of Commerce cut Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a research note on Friday, February 20th. TD Securities dropped their target price on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, February 24th. Scotiabank cut their price target on Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada lowered Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective for the company. in a research report on Tuesday, February 17th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Eldorado Gold currently has a consensus rating of “Hold” and an average price target of $43.71.

Eldorado Gold Stock Performance

NYSE EGO opened at $36.22 on Tuesday. The company has a 50 day moving average of $41.10 and a 200-day moving average of $34.73. Eldorado Gold has a 1-year low of $15.30 and a 1-year high of $51.16. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.14 and a beta of 0.66. The company has a current ratio of 1.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.29.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, February 19th. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $575.14 million for the quarter, compared to the consensus estimate of $500.42 million. Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%. On average, equities analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in Eldorado Gold in the second quarter valued at approximately $32,000. Smartleaf Asset Management LLC bought a new stake in Eldorado Gold during the fourth quarter worth $33,000. Aventura Private Wealth LLC acquired a new stake in Eldorado Gold in the fourth quarter valued at $36,000. Flagship Harbor Advisors LLC bought a new position in shares of Eldorado Gold in the 4th quarter valued at about $36,000. Finally, Wexford Capital LP acquired a new position in shares of Eldorado Gold during the 3rd quarter worth about $37,000. 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.