Zacks Investment Research Upgrades Eldorado Gold (EGO) to Hold
Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “
A number of other analysts also recently issued reports on the company. ValuEngine downgraded Eldorado Gold from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Credit Suisse Group upgraded Eldorado Gold from an “underperform” rating to a “neutral” rating and set a $1.60 price target for the company in a research report on Friday, January 26th. Macquarie upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 17th. Desjardins restated a “hold” rating on shares of Eldorado Gold in a research report on Monday, December 11th. Finally, Scotiabank set a $2.00 price target on Eldorado Gold and gave the stock a “sector perform” rating in a research report on Friday, November 17th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $1.78.
Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of Eldorado Gold by 4,078.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 63,304 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 61,789 shares during the last quarter. OTA Financial Group L.P. bought a new stake in shares of Eldorado Gold in the fourth quarter valued at about $200,000. Two Sigma Securities LLC raised its holdings in shares of Eldorado Gold by 133.5% in the fourth quarter. Two Sigma Securities LLC now owns 164,139 shares of the basic materials company’s stock valued at $235,000 after acquiring an additional 93,849 shares in the last quarter. AMP Capital Investors Ltd raised its holdings in shares of Eldorado Gold by 72.7% in the third quarter. AMP Capital Investors Ltd now owns 167,521 shares of the basic materials company’s stock valued at $367,000 after acquiring an additional 70,500 shares in the last quarter. Finally, ING Groep NV raised its holdings in shares of Eldorado Gold by 296.1% in the third quarter. ING Groep NV now owns 193,952 shares of the basic materials company’s stock valued at $427,000 after acquiring an additional 144,985 shares in the last quarter. Institutional investors and hedge funds own 50.74% of the company’s stock.
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About Eldorado Gold
Eldorado Gold Corp is a Canada-based 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, the Tocantinzinho project and exploration activities in Brazil.
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