Eldorado Gold (EGO) Shares Gap Up to $4.04

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) gapped up prior to trading on Monday . The stock had previously closed at $4.18, but opened at $4.04. Eldorado Gold shares last traded at $4.07, with a volume of 1265670 shares changing hands.

Several equities research analysts have recently commented on EGO shares. Desjardins raised Eldorado Gold from a “sell” rating to a “hold” rating in a report on Monday, January 7th. National Bank Financial downgraded Eldorado Gold from an “outperform” rating to a “sector perform” rating in a report on Monday, January 14th. BMO Capital Markets reissued a “hold” rating on shares of Eldorado Gold in a report on Monday, December 17th. ValuEngine downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research cut Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.36.

The company has a quick ratio of 4.79, a current ratio of 6.33 and a debt-to-equity ratio of 0.17. The company has a market cap of $641.56 million, a price-to-earnings ratio of 39.70, a price-to-earnings-growth ratio of 5.60 and a beta of 1.67.

A number of institutional investors and hedge funds have recently bought and sold shares of EGO. Ruffer LLP bought a new stake in Eldorado Gold in the 4th quarter valued at $5,126,000. Nordea Investment Management AB bought a new stake in Eldorado Gold in the 3rd quarter valued at $5,896,000. Renaissance Technologies LLC bought a new stake in Eldorado Gold in the 2nd quarter valued at $3,327,000. Bank of Montreal Can raised its stake in Eldorado Gold by 41.7% in the 3rd quarter. Bank of Montreal Can now owns 9,193,521 shares of the basic materials company’s stock valued at $8,119,000 after acquiring an additional 2,705,113 shares during the period. Finally, Schroder Investment Management Group raised its stake in Eldorado Gold by 24.5% in the 3rd quarter. Schroder Investment Management Group now owns 6,408,689 shares of the basic materials company’s stock valued at $6,400,000 after acquiring an additional 1,259,292 shares during the period.

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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 Tocantinzinho gold project in Brazil.

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