Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 22,046,081 shares, an increase of 41.6% from the October 13th total of 15,570,214 shares. Based on an average trading volume of 12,994,190 shares, the days-to-cover ratio is currently 1.7 days. Approximately 3.1% of the company’s stock are short sold.

Eldorado Gold Corporation (NYSE:EGO) opened at $1.26 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.16 and a current ratio of 7.80. Eldorado Gold Corporation has a 52 week low of $1.13 and a 52 week high of $3.91. The stock has a market cap of $1,000.45, a P/E ratio of 63.00 and a beta of 1.17.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter. Eldorado Gold Corporation had a negative net margin of 5.02% and a positive return on equity of 0.51%. The company had revenue of $95.35 million for the quarter, compared to analyst estimates of $100.63 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year.

Several research firms recently commented on EGO. Scotiabank set a $2.00 price objective on shares of Eldorado Gold Corporation and gave the stock a “sector perform” rating in a research note on Friday. J P Morgan Chase & Co lowered shares of Eldorado Gold Corporation from an “overweight” rating to a “neutral” rating in a research note on Monday, November 13th. TD Securities reduced their price objective on shares of Eldorado Gold Corporation from $2.10 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, November 7th. Royal Bank Of Canada reduced their price objective on shares of Eldorado Gold Corporation from $1.75 to $1.50 and set an “underperform” rating for the company in a research note on Thursday, November 2nd. Finally, Bank of America Corporation lowered shares of Eldorado Gold Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 31st. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $2.58.

A number of institutional investors have recently modified their holdings of EGO. Rehmann Capital Advisory Group acquired a new position in Eldorado Gold Corporation during the 2nd quarter valued at approximately $104,000. Aperio Group LLC increased its stake in Eldorado Gold Corporation by 28.6% during the 2nd 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 increased its stake in Eldorado Gold Corporation by 43.7% during the 2nd 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. Essex Investment Management Co. LLC increased its stake in Eldorado Gold Corporation by 2.2% during the 2nd 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. Finally, Virtu Financial LLC increased its stake in Eldorado Gold Corporation by 608.4% during the 3rd quarter. Virtu Financial LLC now owns 242,068 shares of the basic materials company’s stock valued at $147,000 after purchasing an additional 207,899 shares in the last quarter. Institutional investors and hedge funds own 50.99% of the company’s stock.

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Eldorado Gold Corporation Company Profile

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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