Eldorado Gold Corp. (EGO) Shares Up 3%
Eldorado Gold Corp. (NYSE:EGO)’s share price shot up 3% during trading on Wednesday . The company traded as high as $4.31 and last traded at $4.17, with a volume of 3,397,762 shares trading hands. The stock had previously closed at $4.05.
A number of brokerages have commented on EGO. Goldman Sachs Group Inc. upgraded Eldorado Gold Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.40 to $5.00 in a research note on Wednesday. Royal Bank Of Canada restated an “outperform” rating and issued a $7.00 target price (up from $6.00) on shares of Eldorado Gold Corp. in a research note on Tuesday, May 17th. Dundee Securities downgraded Eldorado Gold Corp. from a “buy” rating to a “neutral” rating in a research note on Monday, May 16th. Zacks Investment Research downgraded Eldorado Gold Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Finally, Scotiabank upgraded Eldorado Gold Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $4.98.
The company’s market cap is $3.00 billion. The stock’s 50-day moving average is $4.45 and its 200-day moving average is $3.81.
Eldorado Gold Corp. (NYSE:EGO) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The business earned $107 million during the quarter, compared to analyst estimates of $190.99 million. The firm’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Equities analysts forecast that Eldorado Gold Corp. will post $0.07 EPS for the current fiscal year.
An institutional investor recently raised its position in Eldorado Gold Corp. stock. I.G. Investment Management LTD. boosted its position in shares of Eldorado Gold Corp. (NYSE:EGO) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,974,460 shares of the company’s stock after buying an additional 13,200 shares during the period. I.G. Investment Management LTD. owned 0.56% of Eldorado Gold Corp. worth $11,783,000 as of its most recent filing with the SEC.
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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