Eldorado Gold (NYSE:EGO) Stock Price Down 7.1%

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) traded down 7.1% during mid-day trading on Thursday . The company traded as low as $7.22 and last traded at $7.36, 6,364,716 shares traded hands during trading. An increase of 137% from the average session volume of 2,684,148 shares. The stock had previously closed at $7.92.

EGO has been the topic of several research reports. TD Securities lifted their price objective on shares of Eldorado Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Royal Bank of Canada started coverage on Eldorado Gold in a report on Wednesday. They set an “underperform” rating and a $6.50 target price for the company. CIBC set a $9.80 target price on Eldorado Gold and gave the company a “hold” rating in a research report on Friday, November 1st. ValuEngine cut Eldorado Gold from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets set a $16.00 price target on Eldorado Gold and gave the company a “buy” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Eldorado Gold currently has an average rating of “Hold” and an average target price of $8.86.

The firm has a market capitalization of $1.16 billion, a PE ratio of -42.94, a price-to-earnings-growth ratio of 10.12 and a beta of 1.84. The company has a quick ratio of 1.36, a current ratio of 2.26 and a debt-to-equity ratio of 0.14. The company’s 50-day simple moving average is $7.94 and its 200 day simple moving average is $7.22.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The firm had revenue of $172.26 million during the quarter. Eldorado Gold had a negative return on equity of 0.56% and a negative net margin of 44.10%. On average, sell-side analysts forecast that Eldorado Gold Corp will post 0.16 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in EGO. Alps Advisors Inc. increased its position in shares of Eldorado Gold by 17.8% during the second quarter. Alps Advisors Inc. now owns 298,370 shares of the basic materials company’s stock worth $1,737,000 after purchasing an additional 45,019 shares in the last quarter. Morgan Stanley grew its stake in Eldorado Gold by 7.0% during the 2nd quarter. Morgan Stanley now owns 2,899,783 shares of the basic materials company’s stock worth $16,877,000 after buying an additional 190,923 shares during the last quarter. JPMorgan Chase & Co. increased its position in Eldorado Gold by 30,263.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 463,045 shares of the basic materials company’s stock valued at $2,663,000 after buying an additional 461,520 shares in the last quarter. Vanguard Group Inc. increased its position in Eldorado Gold by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,271,311 shares of the basic materials company’s stock valued at $24,860,000 after buying an additional 113,961 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Eldorado Gold by 2.0% during the 2nd quarter. CIBC Asset Management Inc now owns 186,153 shares of the basic materials company’s stock valued at $1,082,000 after buying an additional 3,706 shares in the last quarter. Institutional investors own 50.09% of the company’s stock.

Eldorado Gold Company Profile (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 100% interest in Tocantinzinho gold project in Brazil.

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