Eldorado Gold (NYSE:EGO) Upgraded at Zacks Research

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

EGO has been the topic of a number of other research reports. ATB Cormark Capital Markets downgraded Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. Citigroup lowered Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. Scotiabank dropped their price target on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 21st. Finally, TD Cowen dropped their price target on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold currently has an average rating of “Hold” and an average price target of $44.50.

Eldorado Gold Stock Down 0.1%

EGO opened at $31.08 on Monday. The company has a fifty day moving average of $31.91 and a two-hundred day moving average of $36.65. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.18 and a beta of 0.58. Eldorado Gold has a fifty-two week low of $19.62 and a fifty-two week high of $51.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The business had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. On average, research analysts expect that Eldorado Gold will post 4.27 earnings per share for the current year.

Institutional Trading of Eldorado Gold

Several large investors have recently made changes to their positions in EGO. Bank of America Corp DE raised its stake in Eldorado Gold by 29.4% in the 1st quarter. Bank of America Corp DE now owns 779,666 shares of the basic materials company’s stock valued at $26,766,000 after purchasing an additional 177,051 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Eldorado Gold by 8.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 819 shares during the last quarter. Cape Ann Asset Management Ltd purchased a new stake in shares of Eldorado Gold during the first quarter worth $26,045,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Eldorado Gold during the first quarter worth $1,848,000. Finally, First Trust Advisors LP raised its position in shares of Eldorado Gold by 25.8% in the first quarter. First Trust Advisors LP now owns 144,109 shares of the basic materials company’s stock valued at $4,949,000 after buying an additional 29,592 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

About Eldorado Gold

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.