Eldorado Gold (NYSE:EGO) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Several other analysts have also weighed in on the company. TD Securities decreased their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada increased their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Scotiabank lifted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Eldorado Gold currently has an average rating of “Hold” and a consensus target price of $20.88.

Eldorado Gold Price Performance

Eldorado Gold stock traded down $0.09 during mid-day trading on Friday, reaching $16.65. 1,159,791 shares of the company’s stock traded hands, compared to its average volume of 1,696,646. Eldorado Gold has a 12-month low of $9.72 and a 12-month high of $19.06. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 12.43 and a beta of 0.95. The stock has a 50 day moving average of $17.32 and a two-hundred day moving average of $16.39. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $331.76 million for the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same quarter in the prior year, the company posted $0.17 earnings per share. Equities analysts forecast that Eldorado Gold will post 1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in Eldorado Gold by 65.0% in the third quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after purchasing an additional 2,376,241 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Eldorado Gold in the 3rd quarter worth $36,000. Tacita Capital Inc bought a new position in shares of Eldorado Gold during the 3rd quarter worth $467,000. Versor Investments LP increased its stake in shares of Eldorado Gold by 7.0% during the third quarter. Versor Investments LP now owns 60,014 shares of the basic materials company’s stock valued at $1,043,000 after buying an additional 3,900 shares during the period. Finally, Financial Management Professionals Inc. purchased a new position in shares of Eldorado Gold during the third quarter valued at $32,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

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.