Eldorado Gold (EGO) Given “Hold” Rating at Canaccord Genuity

Eldorado Gold (NYSE:EGO) (TSE:ELD)‘s stock had its “hold” rating reaffirmed by analysts at Canaccord Genuity in a report released on Sunday.

EGO has been the subject of a number of other reports. Zacks Investment Research downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. National Bank Financial assumed coverage on shares of Eldorado Gold in a research report on Thursday, October 18th. They set an “outperform” rating on the stock. TD Securities dropped their target price on shares of Eldorado Gold from $0.80 to $0.70 and set a “reduce” rating on the stock in a research report on Monday, October 29th. Finally, ValuEngine raised shares of Eldorado Gold from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $1.11.

NYSE EGO opened at $0.61 on Friday. The firm has a market capitalization of $481.80 million, a P/E ratio of 30.34 and a beta of 1.58. Eldorado Gold has a twelve month low of $0.60 and a twelve month high of $1.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.33 and a quick ratio of 4.79.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $81.07 million for the quarter, compared to analyst estimates of $107.21 million. On average, sell-side analysts anticipate that Eldorado Gold will post -0.02 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC grew its stake in Eldorado Gold by 26.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 420,255 shares of the basic materials company’s stock valued at $418,000 after buying an additional 86,696 shares in the last quarter. BlackRock Inc. grew its position in shares of Eldorado Gold by 1.3% during the 1st quarter. BlackRock Inc. now owns 7,375,118 shares of the basic materials company’s stock valued at $6,195,000 after purchasing an additional 93,219 shares in the last quarter. Global X Management Co LLC grew its position in shares of Eldorado Gold by 14.9% during the 2nd quarter. Global X Management Co LLC now owns 1,001,392 shares of the basic materials company’s stock valued at $1,012,000 after purchasing an additional 129,760 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Eldorado Gold by 8.9% during the 2nd quarter. Toronto Dominion Bank now owns 1,726,979 shares of the basic materials company’s stock valued at $1,750,000 after purchasing an additional 141,727 shares in the last quarter. Finally, CIBC World Markets Inc. grew its position in shares of Eldorado Gold by 24.6% during the 3rd quarter. CIBC World Markets Inc. now owns 755,430 shares of the basic materials company’s stock valued at $667,000 after purchasing an additional 149,331 shares in the last quarter. 40.14% of the stock is currently owned by institutional investors.

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 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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Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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