Eldorado Gold (NYSE:EGO) Stock Rating Lowered by Zacks Research

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently weighed in on EGO. BMO Capital Markets reaffirmed an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 15th. TD Securities decreased their price target on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a research report on Monday, April 20th. Royal Bank Of Canada cut shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target for the company. in a research report on Tuesday, February 17th. Finally, National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Eldorado Gold currently has an average rating of “Hold” and a consensus price target of $42.00.

Eldorado Gold Trading Up 5.0%

EGO stock opened at $31.10 on Wednesday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.14 and a beta of 0.66. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $36.62 and a 200-day simple moving average of $35.48. Eldorado Gold has a 52 week low of $17.18 and a 52 week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%. On average, equities research analysts expect that Eldorado Gold will post 4.4 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cvfg LLC purchased a new position in Eldorado Gold in the 1st quarter valued at about $2,163,000. Y Intercept Hong Kong Ltd lifted its position in shares of Eldorado Gold by 462.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 174,523 shares of the basic materials company’s stock worth $5,991,000 after purchasing an additional 143,503 shares during the last quarter. PKO Investment Management Joint Stock Co lifted its position in shares of Eldorado Gold by 20.2% during the first quarter. PKO Investment Management Joint Stock Co now owns 82,947 shares of the basic materials company’s stock worth $2,842,000 after purchasing an additional 13,947 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Eldorado Gold during the fourth quarter worth about $98,000. Finally, Mackenzie Financial Corp lifted its position in shares of Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after purchasing an additional 1,631,373 shares during the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.