Eldorado Gold (NYSE:EGO) Stock Rating Lowered by CIBC

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by equities researchers at CIBC from a “sector outperform” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports.

EGO has been the subject of a number of other reports. Bank of America boosted their price objective on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Monday, December 1st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $54.00 price target on shares of Eldorado Gold in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, January 21st. Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday. Finally, National Bank Financial reiterated an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.20.

Eldorado Gold Trading Down 8.6%

EGO traded down $4.11 during trading hours on Friday, reaching $43.52. The company’s stock had a trading volume of 3,242,154 shares, compared to its average volume of 2,588,080. Eldorado Gold has a fifty-two week low of $13.29 and a fifty-two week high of $51.16. The stock has a market cap of $8.64 billion, a PE ratio of 24.09, a P/E/G ratio of 0.21 and a beta of 0.51. The business’s 50-day moving average is $40.53 and its 200-day moving average is $31.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.28.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a return on equity of 8.89% and a net margin of 22.15%.The business had revenue of $575.14 million for the quarter, compared to analyst estimates of $500.42 million. As a group, equities research analysts predict that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its position in shares of Eldorado Gold by 904.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock valued at $65,322,000 after purchasing an additional 1,631,373 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Eldorado Gold during the fourth quarter worth $3,499,000. XTX Topco Ltd increased its holdings in Eldorado Gold by 17.4% in the fourth quarter. XTX Topco Ltd now owns 12,941 shares of the basic materials company’s stock valued at $465,000 after buying an additional 1,919 shares during the last quarter. Quadrature Capital Ltd increased its holdings in Eldorado Gold by 285.1% in the fourth quarter. Quadrature Capital Ltd now owns 150,200 shares of the basic materials company’s stock valued at $5,405,000 after buying an additional 111,200 shares during the last quarter. Finally, Orion Resource Partners LP raised its stake in Eldorado Gold by 27.1% in the fourth quarter. Orion Resource Partners LP now owns 110,608 shares of the basic materials company’s stock valued at $3,975,000 after buying an additional 23,570 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.