Eldorado Gold (EGO) Receives New Coverage from Analysts at National Bank Financial

National Bank Financial started coverage on shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) in a report released on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Eldorado Gold from a hold rating to a buy rating and set a $1.00 target price for the company in a report on Monday. TD Securities cut shares of Eldorado Gold from a hold rating to a reduce rating and reduced their target price for the company from $1.15 to $0.80 in a report on Thursday, September 6th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Eldorado Gold presently has a consensus rating of Hold and a consensus target price of $1.12.

NYSE EGO traded down $0.01 during trading hours on Thursday, hitting $0.90. The company had a trading volume of 121,101 shares, compared to its average volume of 6,983,851. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.19 and a quick ratio of 5.59. Eldorado Gold has a 1-year low of $0.80 and a 1-year high of $2.20. The company has a market capitalization of $724.69 million, a PE ratio of 45.56 and a beta of 1.38.

Several large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its holdings in Eldorado Gold by 165.1% during the second quarter. BNP Paribas Arbitrage SA now owns 512,250 shares of the basic materials company’s stock worth $509,000 after purchasing an additional 319,046 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Eldorado Gold by 136.0% during the second quarter. OppenheimerFunds Inc. now owns 5,553,511 shares of the basic materials company’s stock worth $5,517,000 after purchasing an additional 3,200,000 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Eldorado Gold by 26.0% during the second quarter. Cubist Systematic Strategies LLC now owns 420,255 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 86,696 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Eldorado Gold by 479.6% during the second quarter. Russell Investments Group Ltd. now owns 346,881 shares of the basic materials company’s stock worth $343,000 after purchasing an additional 287,028 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in Eldorado Gold by 12.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 11,891,510 shares of the basic materials company’s stock worth $11,814,000 after purchasing an additional 1,359,898 shares in the last quarter. 40.19% of the stock is owned by institutional investors and hedge funds.

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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