Zacks Investment Research Lowers Eldorado Gold Corporation (NYSE:EGO) to Sell

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, September 12th.

According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “

Other equities research analysts have also recently issued reports about the stock. TD Securities reissued a “buy” rating on shares of Eldorado Gold Corporation in a research report on Tuesday, May 16th. Royal Bank Of Canada set a $4.00 price target on shares of Eldorado Gold Corporation and gave the stock a “buy” rating in a research report on Monday, June 12th. Credit Suisse Group set a $2.00 price target on shares of Eldorado Gold Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Canaccord Genuity cut shares of Eldorado Gold Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, ValuEngine upgraded shares of Eldorado Gold Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $3.91.

Eldorado Gold Corporation (EGO) opened at 2.20 on Tuesday. Eldorado Gold Corporation has a 1-year low of $1.77 and a 1-year high of $4.27. The company’s 50-day moving average price is $2.01 and its 200-day moving average price is $2.80. The stock’s market cap is $1.57 billion.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.01 EPS for the quarter. The business had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $104.71 million. Eldorado Gold Corporation had a net margin of 1.00% and a return on equity of 1.41%. The firm’s revenue was down 22.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) EPS. Analysts predict that Eldorado Gold Corporation will post $0.04 EPS for the current year.

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Several institutional investors have recently modified their holdings of EGO. Rehmann Capital Advisory Group bought a new stake in shares of Eldorado Gold Corporation during the 2nd quarter worth approximately $104,000. Karp Capital Management Corp bought a new stake in shares of Eldorado Gold Corporation during the 1st quarter worth approximately $116,000. Aperio Group LLC lifted its holdings in shares of 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 worth $116,000 after acquiring an additional 9,745 shares during the period. Balyasny Asset Management LLC lifted its holdings in shares of 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 worth $120,000 after acquiring an additional 13,889 shares during the period. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of 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 worth $140,000 after acquiring an additional 1,148 shares during the period. 55.07% of the stock is owned by institutional investors.

About Eldorado Gold Corporation

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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Analyst Recommendations for Eldorado Gold Corporation (NYSE:EGO)

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