Eldorado Gold (NYSE:EGO) Cut to Hold at StockNews.com

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

Several other equities research analysts have also commented on EGO. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Scotiabank lowered their price target on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.75.

Eldorado Gold Trading Down 8.6 %

Shares of EGO stock opened at $16.17 on Wednesday. The stock has a market capitalization of $3.31 billion, a P/E ratio of 11.55 and a beta of 0.81. Eldorado Gold has a fifty-two week low of $13.29 and a fifty-two week high of $19.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The company has a 50 day moving average price of $15.10 and a 200 day moving average price of $15.93.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The firm had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. Equities research analysts predict that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its stake in shares of Eldorado Gold by 2.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company’s stock valued at $179,942,000 after buying an additional 309,599 shares during the last quarter. Vanguard Group Inc. increased its position in Eldorado Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company’s stock worth $117,228,000 after buying an additional 136,594 shares during the period. Jennison Associates LLC lifted its stake in Eldorado Gold by 17.5% in the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after buying an additional 1,058,137 shares during the last quarter. Carrhae Capital LLP grew its position in shares of Eldorado Gold by 13.9% during the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock worth $89,826,000 after acquiring an additional 738,233 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Eldorado Gold by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company’s stock worth $73,927,000 after acquiring an additional 74,389 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.