Macquarie downgraded shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) from an outperform rating to a neutral rating in a research note released on Tuesday morning.

EGO has been the topic of a number of other reports. Royal Bank Of Canada cut shares of Eldorado Gold Corporation from an outperform rating to a sector perform rating and dropped their target price for the company from $3.75 to $3.50 in a research note on Thursday, June 29th. CIBC cut shares of Eldorado Gold Corporation from a sector perform rating to a sector underperform rating in a research note on Wednesday, June 28th. Credit Suisse Group cut shares of Eldorado Gold Corporation from an outperform rating to a neutral rating and dropped their target price for the company from $5.25 to $3.25 in a research note on Thursday, June 29th. TD Securities reiterated a buy rating on shares of Eldorado Gold Corporation in a research note on Tuesday, May 16th. Finally, BidaskClub upgraded shares of Eldorado Gold Corporation from a strong sell rating to a sell rating in a research note on Saturday, August 12th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Eldorado Gold Corporation presently has a consensus rating of Hold and an average target price of $4.27.

Eldorado Gold Corporation (EGO) opened at 1.97 on Tuesday. The firm has a 50-day moving average of $2.03 and a 200 day moving average of $2.84. The company’s market capitalization is $1.41 billion. Eldorado Gold Corporation has a 12-month low of $1.77 and a 12-month high of $4.34.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share for the quarter. The firm had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $104.71 million. Eldorado Gold Corporation had a net margin of 1.00% and a return on equity of 1.41%. The company’s quarterly revenue was down 22.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) earnings per share. Analysts forecast that Eldorado Gold Corporation will post $0.04 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Intact Investment Management Inc. increased its holdings in Eldorado Gold Corporation by 83.9% during the 2nd quarter. Intact Investment Management Inc. now owns 5,351,900 shares of the basic materials company’s stock worth $18,196,000 after acquiring an additional 2,441,800 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in Eldorado Gold Corporation by 15.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,848,322 shares of the basic materials company’s stock worth $4,880,000 after acquiring an additional 253,684 shares during the period. OppenheimerFunds Inc. increased its holdings in Eldorado Gold Corporation by 29.8% during the 1st quarter. OppenheimerFunds Inc. now owns 345,178 shares of the basic materials company’s stock worth $1,177,000 after acquiring an additional 79,318 shares during the period. Creative Planning increased its holdings in Eldorado Gold Corporation by 411.2% during the 2nd quarter. Creative Planning now owns 373,893 shares of the basic materials company’s stock worth $987,000 after acquiring an additional 300,752 shares during the period. Finally, GWM Advisors LLC increased its holdings in Eldorado Gold Corporation by 343.6% during the 1st quarter. GWM Advisors LLC now owns 197,400 shares of the basic materials company’s stock worth $674,000 after acquiring an additional 152,900 shares during the period. 55.08% of the stock is currently owned by institutional investors.

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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