Eldorado Gold (NYSE:EGO) Rating Lowered to Hold at Zacks Research

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

EGO has been the topic of a number of other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, January 21st. Canaccord Genuity Group downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. TD Securities cut their price target on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. TD Cowen lowered their price objective on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, February 24th. Finally, Bank of America upped their target price on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday, December 1st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Eldorado Gold has a consensus rating of “Hold” and an average target price of $43.71.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $36.22 on Tuesday. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.14 and a beta of 0.66. The company has a current ratio of 1.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.29. Eldorado Gold has a 12 month low of $15.30 and a 12 month high of $51.16. The stock’s 50 day moving average is $41.10 and its 200-day moving average is $34.73.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%.The firm had revenue of $575.14 million for the quarter, compared to analyst estimates of $500.42 million. Equities research analysts expect that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EGO. Headlands Technologies LLC bought a new position in shares of Eldorado Gold in the second quarter worth about $32,000. Smartleaf Asset Management LLC acquired a new position in Eldorado Gold during the 4th quarter worth approximately $33,000. Aventura Private Wealth LLC acquired a new stake in Eldorado Gold in the fourth quarter valued at approximately $36,000. Flagship Harbor Advisors LLC bought a new stake in shares of Eldorado Gold during the fourth quarter worth $36,000. Finally, Wexford Capital LP acquired a new position in shares of Eldorado Gold during the third quarter worth $37,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.