Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “

A number of other research analysts also recently issued reports on the company. Macquarie downgraded Eldorado Gold Corporation from an “outperform” rating to a “neutral” rating in a report on Tuesday. TD Securities decreased their price target on Eldorado Gold Corporation from $4.75 to $4.25 and set a “buy” rating for the company in a report on Tuesday. Scotiabank decreased their price target on Eldorado Gold Corporation from $3.25 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday. Credit Suisse Group downgraded Eldorado Gold Corporation from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $5.25 to $3.25 in a report on Thursday, June 29th. Finally, BidaskClub raised Eldorado Gold Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Eldorado Gold Corporation currently has a consensus rating of “Hold” and an average price target of $4.27.

Eldorado Gold Corporation (NYSE:EGO) traded up 2.07% during midday trading on Tuesday, hitting $1.97. 5,554,647 shares of the stock traded hands. Eldorado Gold Corporation has a 12 month low of $1.77 and a 12 month high of $4.34. The stock’s market cap is $1.41 billion. The company has a 50-day moving average of $2.03 and a 200-day moving average of $2.84.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.01 EPS for the quarter. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. The firm had revenue of $82.70 million during the quarter, compared to the consensus estimate of $104.71 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue was down 22.8% compared to the same quarter last year. On average, equities research analysts anticipate that Eldorado Gold Corporation will post $0.04 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Eldorado Gold Corporation by 35.1% in the second quarter. Van ECK Associates Corp now owns 71,727,789 shares of the basic materials company’s stock valued at $189,361,000 after buying an additional 18,636,491 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Eldorado Gold Corporation by 18.7% in the second quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock valued at $134,866,000 after buying an additional 8,006,424 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Eldorado Gold Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock valued at $53,984,000 after buying an additional 617,087 shares in the last quarter. Hexavest Inc. increased its position in shares of Eldorado Gold Corporation by 121.5% in the second quarter. Hexavest Inc. now owns 15,523,735 shares of the basic materials company’s stock valued at $41,023,000 after buying an additional 8,515,065 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Eldorado Gold Corporation by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 12,609,444 shares of the basic materials company’s stock valued at $33,290,000 after buying an additional 824,770 shares in the last quarter. Institutional investors and hedge funds own 55.08% of the company’s stock.

About Eldorado Gold Corporation

Eldorado Gold Corporation (Eldorado) is a gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil.

Analyst Recommendations for Eldorado Gold Corporation (NYSE:EGO)

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