Eldorado Gold (NYSE:EGO) Stock Rating Lowered by Wall Street Zen

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts have also recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, October 8th. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. CIBC upped their target price on shares of Eldorado Gold from $32.00 to $46.00 and gave the stock an “outperformer” rating in a research note on Friday. Finally, Scotiabank restated a “sector perform” rating on shares of Eldorado Gold in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.40.

Eldorado Gold Stock Up 0.8%

Shares of EGO opened at $27.57 on Friday. The stock has a market capitalization of $5.60 billion, a PE ratio of 13.85, a P/E/G ratio of 0.42 and a beta of 0.44. Eldorado Gold has a 1 year low of $13.29 and a 1 year high of $30.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23. The company’s 50-day simple moving average is $25.83 and its 200-day simple moving average is $21.79.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $459.53 million for the quarter, compared to analyst estimates of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. Analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds have recently added to or reduced their stakes in the stock. TT International Asset Management LTD purchased a new position in Eldorado Gold in the third quarter valued at approximately $1,186,000. Osaic Holdings Inc. increased its stake in Eldorado Gold by 7.8% in the second quarter. Osaic Holdings Inc. now owns 29,712 shares of the basic materials company’s stock valued at $604,000 after purchasing an additional 2,153 shares during the last quarter. State of Wyoming purchased a new position in Eldorado Gold in the second quarter valued at approximately $58,000. Headlands Technologies LLC purchased a new position in Eldorado Gold in the second quarter valued at approximately $32,000. Finally, Vident Advisory LLC increased its stake in Eldorado Gold by 13.3% in the second quarter. Vident Advisory LLC now owns 61,804 shares of the basic materials company’s stock valued at $1,257,000 after purchasing an additional 7,251 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

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.