Eldorado Gold Corp. (EGO) Trading Down 4.4%
Shares of Eldorado Gold Corp. (NYSE:EGO) traded down 4.4% during mid-day trading on Friday . The stock traded as low as $4.07 and last traded at $4.11, with a volume of 5,311,846 shares trading hands. The stock had previously closed at $4.30.
Several analysts recently issued reports on the company. Credit Suisse Group AG downgraded Eldorado Gold Corp. from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $5.25 in a research note on Thursday, July 21st. HSBC restated a “buy” rating on shares of Eldorado Gold Corp. in a report on Thursday, July 7th. Raymond James Financial Inc. upgraded Eldorado Gold Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. Scotiabank upgraded Eldorado Gold Corp. from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 18th. Finally, Howard Weil upgraded Eldorado Gold Corp. from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Eldorado Gold Corp. presently has an average rating of “Buy” and an average price target of $4.98.
The firm’s market capitalization is $2.93 billion. The stock’s 50-day moving average price is $4.49 and its 200-day moving average price is $3.71.
Eldorado Gold Corp. (NYSE:EGO) last announced its earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. During the same period in the previous year, the company earned $0.02 EPS. The firm had revenue of $107 million for the quarter, compared to analyst estimates of $190.99 million. Eldorado Gold Corp.’s revenue was down 14.0% compared to the same quarter last year. On average, equities analysts expect that Eldorado Gold Corp. will post $0.06 earnings per share for the current year.
Other institutional investors have recently made changes to their positions in the company. State of Wisconsin Investment Board boosted its position in shares of Eldorado Gold Corp. by 69.3% in the fourth quarter. State of Wisconsin Investment Board now owns 622,503 shares of the company’s stock worth $1,837,000 after buying an additional 254,800 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Eldorado Gold Corp. by 0.9% in the fourth quarter. OppenheimerFunds Inc. now owns 6,765,892 shares of the company’s stock worth $20,094,000 after buying an additional 60,092 shares during the last quarter. Finally, I.G. Investment Management LTD. boosted its position in shares of Eldorado Gold Corp. by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 3,974,460 shares of the company’s stock worth $11,783,000 after buying an additional 13,200 shares during the last quarter.
Eldorado Gold Corporation (Eldorado) owns and operates mines around the world, primarily gold mines but also a silver-lead-zinc mine. The Company’s activities involve all facets of the mining industry, including exploration, discovery, acquisition, financing, development, production and reclamation. Its business is focused in Brazil, China, Greece, Turkey and Romania.
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