Eldorado Gold (NYSE:EGO) Stock Rating Lowered by StockNews.com

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other research analysts also recently commented on the stock. TD Securities cut their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Scotiabank cut their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Eldorado Gold Stock Down 8.7 %

Shares of NYSE:EGO opened at $13.40 on Thursday. The business’s 50 day moving average is $15.01 and its 200 day moving average is $16.27. The stock has a market cap of $2.75 billion, a P/E ratio of 10.00 and a beta of 0.93. Eldorado Gold has a 52-week low of $9.72 and a 52-week high of $19.06. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The business had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. Sell-side analysts predict that Eldorado Gold will post 1.49 EPS for the current year.

Institutional Trading of Eldorado Gold

Hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. bought a new position in shares of Eldorado Gold during the 3rd quarter worth approximately $32,000. Blue Trust Inc. increased its position in shares of Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Eldorado Gold during the 3rd quarter valued at $36,000. TD Waterhouse Canada Inc. boosted its position in shares of Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 682 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Eldorado Gold in the 4th quarter worth $55,000. 69.58% 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 mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.