Eldorado Gold (EGO) Shares Gap Up to $0.81

Shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) gapped up prior to trading on Friday . The stock had previously closed at $0.78, but opened at $0.81. Eldorado Gold shares last traded at $0.84, with a volume of 9691900 shares.

A number of research firms have recently weighed in on EGO. TD Securities reduced their target price on shares of Eldorado Gold from $1.60 to $1.20 and set a “hold” rating on the stock in a report on Friday, March 23rd. Scotiabank dropped their price target on shares of Eldorado Gold from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Friday, March 23rd. Zacks Investment Research cut shares of Eldorado Gold from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Desjardins reaffirmed a “hold” rating on shares of Eldorado Gold in a research note on Monday, December 11th. Finally, Credit Suisse Group raised shares of Eldorado Gold from an “underperform” rating to a “neutral” rating and set a $1.60 price target for the company in a research note on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Eldorado Gold currently has an average rating of “Hold” and an average target price of $1.45.

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The company has a current ratio of 6.46, a quick ratio of 6.16 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $666.97, a P/E ratio of 42.00, a PEG ratio of 7.75 and a beta of 1.25.

Several hedge funds have recently added to or reduced their stakes in the stock. Hexavest Inc. boosted its stake in shares of Eldorado Gold by 3.0% during the 4th quarter. Hexavest Inc. now owns 19,030,386 shares of the basic materials company’s stock worth $27,340,000 after purchasing an additional 549,135 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Eldorado Gold by 78.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 7,585,136 shares of the basic materials company’s stock worth $10,847,000 after purchasing an additional 3,341,481 shares during the period. BlackRock Inc. boosted its position in Eldorado Gold by 15.2% in the 4th quarter. BlackRock Inc. now owns 7,281,899 shares of the basic materials company’s stock valued at $10,414,000 after buying an additional 962,141 shares during the period. Anchor Bolt Capital LP boosted its position in Eldorado Gold by 89.1% in the 3rd quarter. Anchor Bolt Capital LP now owns 6,910,852 shares of the basic materials company’s stock valued at $15,204,000 after buying an additional 3,256,850 shares during the period. Finally, Bank of Montreal Can boosted its position in Eldorado Gold by 10.1% in the 4th quarter. Bank of Montreal Can now owns 6,168,146 shares of the basic materials company’s stock valued at $8,821,000 after buying an additional 563,986 shares during the period. 51.61% of the stock is owned by hedge funds and other institutional investors.

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Eldorado Gold Company Profile

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 also explores for iron, silver, lead, and zinc. It holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; 95% interests in Olympias and Skouries, and 100% interests in Perama Hill gold projects in Greece; 81% interests in Certej gold project in Romania; 100% interests in Tocantinzinho gold project in Brazil; 95% interests in Stratoni lead and zinc mines in Greece; and 100% interests in Vila Nova iron ore mine in Brazil.

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