Eldorado Gold (EGO) Sets New 1-Year Low at $0.62

Shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $0.62 and last traded at $0.63, with a volume of 92422 shares. The stock had previously closed at $0.66.

EGO has been the topic of several recent research reports. TD Securities cut Eldorado Gold from a “hold” rating to a “reduce” rating and decreased their price objective for the stock from $1.15 to $0.80 in a report on Thursday, September 6th. National Bank Financial initiated coverage on Eldorado Gold in a report on Thursday, October 18th. They set an “outperform” rating on the stock. Zacks Investment Research raised Eldorado Gold from a “hold” rating to a “buy” rating and set a $1.00 price objective on the stock in a report on Monday, October 15th. Canaccord Genuity reaffirmed a “hold” rating on shares of Eldorado Gold in a report on Monday, October 22nd. Finally, ValuEngine raised Eldorado Gold from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Eldorado Gold currently has an average rating of “Hold” and a consensus price target of $1.11.

The company has a debt-to-equity ratio of 0.17, a current ratio of 6.33 and a quick ratio of 4.79. The company has a market capitalization of $492.29 million, a price-to-earnings ratio of 30.66 and a beta of 1.58.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Eldorado Gold had a negative return on equity of 0.27% and a negative net margin of 35.17%. The firm had revenue of $81.07 million for the quarter, compared to the consensus estimate of $107.21 million. Analysts expect that Eldorado Gold Corp will post -0.01 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Chicago Capital LLC bought a new position in shares of Eldorado Gold during the 2nd quarter worth $111,000. Tower Research Capital LLC TRC grew its position in shares of Eldorado Gold by 1,257.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 227,252 shares of the basic materials company’s stock worth $201,000 after buying an additional 210,509 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Eldorado Gold by 479.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 346,881 shares of the basic materials company’s stock worth $343,000 after buying an additional 287,028 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Eldorado Gold by 26.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 420,255 shares of the basic materials company’s stock worth $418,000 after buying an additional 86,696 shares in the last quarter. Finally, U S Global Investors Inc bought a new position in shares of Eldorado Gold during the 3rd quarter worth $396,000. 40.15% of the stock is currently owned by institutional investors and hedge funds.

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About Eldorado Gold (NYSE:EGO)

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 Tocantinzinho gold project in Brazil.

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