Eldorado Gold (NYSE:EGO) Lowered to “Strong Sell” Rating by Zacks Research
by Renee Jackson · The Cerbat GemEldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.
Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada cut shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective on the stock. in a research report on Tuesday, February 17th. Scotiabank cut their price objective on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 21st. Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. TD Cowen cut their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.00.
View Our Latest Report on Eldorado Gold
Eldorado Gold Trading Up 5.0%
Shares of NYSE EGO opened at $31.10 on Wednesday. The company’s fifty day moving average is $36.62 and its 200-day moving average is $35.48. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 0.14 and a beta of 0.66. Eldorado Gold has a twelve month low of $17.18 and a twelve month high of $51.16. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29.
Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. Equities research analysts predict that Eldorado Gold will post 4.4 EPS for the current year.
Institutional Investors Weigh In On Eldorado Gold
Several institutional investors and hedge funds have recently added to or reduced their stakes in EGO. Van ECK Associates Corp lifted its position in Eldorado Gold by 33.9% during the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after buying an additional 4,173,963 shares in the last quarter. L1 Capital Pty Ltd lifted its position in Eldorado Gold by 35.2% during the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after buying an additional 2,512,168 shares in the last quarter. Mackenzie Financial Corp lifted its position in Eldorado Gold by 904.1% during the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after buying an additional 1,631,373 shares in the last quarter. Millennium Management LLC lifted its position in Eldorado Gold by 490.6% during the 4th quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after buying an additional 1,484,503 shares in the last quarter. Finally, FIL Ltd bought a new stake in Eldorado Gold during the 4th quarter worth about $35,473,000. 69.58% of the stock is owned by 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.