Eldorado Gold (NYSE:EGO) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus reaffirmed a hold rating on shares of Eldorado Gold in a research note on Friday, January 26th. Stifel Canada downgraded Eldorado Gold from a buy rating to a hold rating in a research note on Friday, January 26th. National Bank Financial restated an outperform spec overweight rating on shares of Eldorado Gold in a report on Monday, April 8th. TD Securities decreased their price objective on shares of Eldorado Gold from $14.50 to $13.00 and set a hold rating for the company in a report on Monday, February 26th. Finally, CIBC boosted their target price on shares of Eldorado Gold from $16.50 to $18.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $13.30.

Eldorado Gold Stock Performance

Shares of EGO opened at $14.94 on Friday. The company has a 50-day moving average of $13.82 and a two-hundred day moving average of $12.58. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 4.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52. Eldorado Gold has a one year low of $8.30 and a one year high of $16.07.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. The company had revenue of $257.97 million for the quarter. During the same period last year, the firm earned $0.11 EPS. On average, equities research analysts expect that Eldorado Gold will post 0.95 earnings per share for the current year.

Institutional Trading of Eldorado Gold

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Eldorado Gold by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 70,132 shares of the basic materials company’s stock valued at $625,000 after buying an additional 1,630 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Eldorado Gold by 350.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 684,570 shares of the basic materials company’s stock valued at $6,108,000 after purchasing an additional 532,453 shares during the period. TD Asset Management Inc boosted its stake in shares of Eldorado Gold by 4.8% in the 3rd quarter. TD Asset Management Inc now owns 529,163 shares of the basic materials company’s stock valued at $4,744,000 after purchasing an additional 24,061 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Eldorado Gold by 13.0% during the 3rd quarter. CIBC Asset Management Inc now owns 193,188 shares of the basic materials company’s stock worth $1,729,000 after buying an additional 22,292 shares during the period. Finally, Helikon Investments Ltd raised its stake in shares of Eldorado Gold by 1.7% during the third quarter. Helikon Investments Ltd now owns 29,438,478 shares of the basic materials company’s stock worth $262,297,000 after buying an additional 501,488 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

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.