Eldorado Gold (EGO) Upgraded at ValuEngine

ValuEngine upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a sell rating to a hold rating in a research report released on Thursday.

EGO has been the subject of a number of other 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 research report on Thursday, September 6th. National Bank Financial initiated coverage on Eldorado Gold in a report on Thursday, October 18th. They issued an outperform rating for the company. Zacks Investment Research cut Eldorado Gold from a buy rating to a hold rating in a report on Wednesday, October 17th. Finally, Canaccord Genuity reissued a hold rating on shares of Eldorado Gold in a report on Monday, October 22nd. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $1.11.

Eldorado Gold stock traded up $0.02 during mid-day trading on Thursday, reaching $0.72. 2,873,362 shares of the company were exchanged, compared to its average volume of 4,750,002. Eldorado Gold has a twelve month low of $0.65 and a twelve month high of $1.47. The company has a quick ratio of 5.59, a current ratio of 6.33 and a debt-to-equity ratio of 0.17.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share 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 company had revenue of $81.07 million for the quarter, compared to analyst estimates of $107.21 million. Analysts predict that Eldorado Gold will post -0.01 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of EGO. Wells Fargo & Company MN lifted its holdings in shares of Eldorado Gold by 8.6% in the 1st quarter. Wells Fargo & Company MN now owns 1,605,645 shares of the basic materials company’s stock valued at $1,348,000 after buying an additional 127,408 shares during the period. BlackRock Inc. increased its stake in Eldorado Gold by 1.3% in 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. UBS Group AG increased its stake in Eldorado Gold by 51.3% in the 1st quarter. UBS Group AG now owns 2,183,761 shares of the basic materials company’s stock valued at $1,834,000 after purchasing an additional 740,026 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Eldorado Gold in the 1st quarter valued at approximately $280,000. Finally, Millennium Management LLC increased its stake in Eldorado Gold by 17.8% in the 1st quarter. Millennium Management LLC now owns 1,933,036 shares of the basic materials company’s stock valued at $1,624,000 after purchasing an additional 291,428 shares in the last quarter. 40.53% 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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