Eldorado Gold Corp. (EGO) Trading Down 6.1%
Shares of Eldorado Gold Corp. (NYSE:EGO) fell 6.1% during mid-day trading on Wednesday . The company traded as low as $3.69 and last traded at $3.69, with a volume of 3,472,593 shares. The stock had previously closed at $3.93.
A number of brokerages have issued reports on EGO. Scotiabank raised Eldorado Gold Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 18th. Howard Weil raised Eldorado Gold Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 18th. Royal Bank Of Canada reaffirmed 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. Finally, HSBC reaffirmed a “buy” rating on shares of Eldorado Gold Corp. in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $4.98.
The stock’s 50-day moving average is $4.39 and its 200 day moving average is $3.94. The company’s market capitalization is $2.61 billion.
Eldorado Gold Corp. (NYSE:EGO) last released its earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $107 million for the quarter, compared to the consensus estimate of $190.99 million. During the same period in the prior year, the business earned $0.02 EPS. The company’s quarterly revenue was down 14.0% on a year-over-year basis. On average, equities analysts expect that Eldorado Gold Corp. will post $0.07 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Eldorado Gold Corp. stock. I.G. Investment Management LTD. increased its position in Eldorado Gold Corp. (NYSE:EGO) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 approximately 0.56% of Eldorado Gold Corp. worth $11,783,000 at the end of the most recent 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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