Eldorado Gold Corporation (EGO) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) from a sell rating to a hold rating in a report published on Monday morning.

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

A number of other equities analysts also recently issued reports on the stock. Credit Suisse Group raised shares of Eldorado Gold Corporation from an underperform rating to a neutral rating in a report on Monday, September 25th. Scotiabank lowered their price target on shares of Eldorado Gold Corporation from $3.25 to $3.00 and set a sector perform rating on the stock in a report on Tuesday, September 12th. TD Securities lowered their price target on shares of Eldorado Gold Corporation from $4.75 to $4.25 and set a buy rating on the stock in a report on Tuesday, September 12th. Macquarie downgraded shares of Eldorado Gold Corporation from an outperform rating to a neutral rating in a report on Tuesday, September 12th. Finally, ValuEngine downgraded shares of Eldorado Gold Corporation from a hold rating to a sell rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $3.94.

Eldorado Gold Corporation (NYSE:EGO) remained flat at $2.25 during mid-day trading on Monday. 400,374 shares of the company traded hands. The stock’s market cap is $1.61 billion. The firm has a 50-day moving average of $2.18 and a 200 day moving average of $2.71. Eldorado Gold Corporation has a one year low of $1.77 and a one year high of $3.91.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $82.70 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted ($0.01) earnings per share. Equities research analysts expect that Eldorado Gold Corporation will post $0.04 EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group bought a new stake in shares of Eldorado Gold Corporation during the second quarter valued at approximately $104,000. Karp Capital Management Corp bought a new stake in Eldorado Gold Corporation in the first quarter worth $116,000. Aperio Group LLC increased its position in Eldorado Gold Corporation by 28.6% in the second quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 9,745 shares during the last quarter. Balyasny Asset Management LLC increased its position in Eldorado Gold Corporation by 43.7% in the second quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 13,889 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its position in Eldorado Gold Corporation by 2.2% in the second quarter. Essex Investment Management Co. LLC now owns 52,990 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 1,148 shares during the last quarter. Hedge funds and other institutional investors own 55.07% of the company’s stock.

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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