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

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other research analysts have also weighed in on the stock. Scotiabank decreased their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Eldorado Gold has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Eldorado Gold Stock Performance

Shares of EGO traded up $0.32 during mid-day trading on Wednesday, reaching $17.92. The company had a trading volume of 3,233,880 shares, compared to its average volume of 1,519,912. The stock has a 50 day moving average of $15.04 and a two-hundred day moving average of $15.93. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.67 billion, a P/E ratio of 12.80 and a beta of 0.81. Eldorado Gold has a 52-week low of $13.29 and a 52-week high of $19.06.

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

Hedge Funds Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in Eldorado Gold by 55.9% in the third quarter. The Manufacturers Life Insurance Company now owns 264,111 shares of the basic materials company’s stock valued at $4,592,000 after purchasing an additional 94,676 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Eldorado Gold by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock worth $2,885,000 after buying an additional 94,040 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after buying an additional 118,760 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Eldorado Gold in the third quarter valued at approximately $2,626,000. Finally, Barclays PLC grew its holdings in Eldorado Gold by 18.6% during the third quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock worth $3,064,000 after acquiring an additional 27,667 shares during the period. 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.