Eldorado Gold (NYSE:EGO) Stock Gets Downgrade from Zacks Research

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

Several other research analysts have also recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Eldorado Gold from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a report on Sunday, August 9th. Scotiabank dropped their price objective on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Bank of America raised shares of Eldorado Gold from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $54.00 in a research note on Tuesday, September 22nd. Finally, Jefferies Financial Group initiated coverage on Eldorado Gold in a research report on Thursday, August 20th. They issued a “buy” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Eldorado Gold has a consensus rating of “Moderate Buy” and a consensus price target of $46.57.

Eldorado Gold Stock Up 0.0%

Shares of Eldorado Gold stock opened at $35.15 on Monday. Eldorado Gold has a 1 year low of $24.44 and a 1 year high of $51.16. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.31 and a beta of 0.67. The company has a 50-day moving average of $41.01 and a 200 day moving average of $35.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. As a group, sell-side analysts anticipate that Eldorado Gold will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds have recently bought and sold shares of EGO. Continuum Advisory LLC purchased a new position in Eldorado Gold in the 2nd quarter worth approximately $25,000. Farther Finance Advisors LLC increased its position in shares of Eldorado Gold by 217.4% during the third quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 887 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Eldorado Gold during the third quarter worth $58,000. EFG International AG purchased a new stake in Eldorado Gold during the second quarter worth about $62,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Eldorado Gold during the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado’s operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.