Eldorado Gold Corporation (EGO) Lifted to Neutral at Credit Suisse Group
Credit Suisse Group upgraded shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) from an underperform rating to a neutral rating in a report published on Monday, MarketBeat reports.
EGO has been the topic of a number of other reports. Royal Bank Of Canada lowered Eldorado Gold Corporation from an outperform rating to a sector perform rating and cut their target price for the stock from $3.75 to $3.50 in a research report on Thursday, June 29th. CIBC lowered Eldorado Gold Corporation from a sector perform rating to a sector underperform rating in a research report on Wednesday, June 28th. Scotiabank dropped their price target on Eldorado Gold Corporation from $3.25 to $3.00 and set a sector perform rating on the stock in a research report on Tuesday, September 12th. BidaskClub raised Eldorado Gold Corporation from a strong sell rating to a sell rating in a research report on Saturday, August 12th. Finally, ValuEngine raised Eldorado Gold Corporation from a sell rating to a hold rating in a research report on Saturday, July 8th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $3.91.
Shares of Eldorado Gold Corporation (NYSE EGO) opened at 2.22 on Monday. Eldorado Gold Corporation has a 52 week low of $1.77 and a 52 week high of $4.27. The firm’s market capitalization is $1.59 billion. The firm has a 50-day moving average price of $2.01 and a 200-day moving average price of $2.80.
Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $82.70 million for the quarter, compared to analyst estimates of $104.71 million. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. Eldorado Gold Corporation’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) earnings per share. On average, equities analysts expect that Eldorado Gold Corporation will post $0.04 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of EGO. Rehmann Capital Advisory Group purchased a new position in Eldorado Gold Corporation in the second quarter valued at about $104,000. Karp Capital Management Corp purchased a new position in Eldorado Gold Corporation in the first quarter valued at about $116,000. Aperio Group LLC grew its stake in Eldorado Gold Corporation by 28.6% in the second quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 9,745 shares in the last quarter. Balyasny Asset Management LLC grew its stake in Eldorado Gold Corporation by 43.7% in the second quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 13,889 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its stake in Eldorado Gold Corporation by 2.2% in the second quarter. Essex Investment Management Co. LLC now owns 52,990 shares of the basic materials company’s stock valued at $140,000 after purchasing an additional 1,148 shares in the last quarter. Hedge funds and other institutional investors own 55.07% 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.
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