Eldorado Gold (NYSE:EGO) Raised to “Neutral” at CIBC
CIBC upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from an underperform rating to a neutral rating in a research note issued to investors on Wednesday, The Fly reports.
Several other research firms have also recently commented on EGO. Zacks Investment Research upgraded IMI PLC/S from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Credit Suisse Group began coverage on New Gold in a research note on Tuesday, April 16th. They set a neutral rating and a $1.00 price target for the company. ValuEngine raised WPP from a sell rating to a hold rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a GBX 785 ($10.26) price target on shares of in a research note on Wednesday, June 26th. Finally, TD Securities decreased their price target on Great Canadian Gaming from C$62.00 to C$56.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $5.01.
EGO opened at $6.99 on Wednesday. Eldorado Gold has a 12 month low of $2.52 and a 12 month high of $7.03. The company has a current ratio of 3.98, a quick ratio of 2.70 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.11 billion, a PE ratio of -41.12, a P/E/G ratio of 12.46 and a beta of 2.00. The firm has a 50 day simple moving average of $4.89.
Hedge funds and other institutional investors have recently modified their holdings of the business. King Luther Capital Management Corp bought a new stake in shares of Eldorado Gold during the 1st quarter worth $94,000. Acadian Asset Management LLC bought a new stake in shares of Eldorado Gold during the 4th quarter worth $98,000. Two Sigma Investments LP bought a new stake in shares of Eldorado Gold during the 4th quarter worth $106,000. Two Sigma Advisers LP bought a new stake in shares of Eldorado Gold during the 4th quarter worth $156,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Eldorado Gold during the 1st quarter worth $185,000. 41.47% of the stock is owned by hedge funds and other institutional investors.
About Eldorado Gold
Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and 100% interest in Tocantinzinho gold project in Brazil.
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