Eldorado Gold Corp. (EGO) Stock Price Down 6.1%
Shares of Eldorado Gold Corp. (NYSE:EGO) were down 6.1% during 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 traded. The stock had previously closed at $3.93.
A number of analysts have recently commented on EGO shares. Scotiabank raised Eldorado Gold Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 18th. HSBC reissued a “buy” rating on shares of Eldorado Gold Corp. in a research report on Thursday, July 7th. Goldman Sachs Group Inc. raised Eldorado Gold Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.40 to $5.00 in a research report on Wednesday, August 10th. Canaccord Genuity raised Eldorado Gold Corp. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $5.75 to $7.00 in a research report on Monday, May 9th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $6.00 price target on shares of Eldorado Gold Corp. in a research report on Sunday, June 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. Eldorado Gold Corp. has an average rating of “Buy” and an average price target of $4.98.
The stock’s 50 day moving average price is $4.31 and its 200 day moving average price is $3.93. The firm’s market capitalization is $2.55 billion.
Eldorado Gold Corp. (NYSE:EGO) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.01. The business had revenue of $107 million for the quarter, compared to the consensus estimate of $190.99 million. Eldorado Gold Corp.’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 earnings per share. On average, analysts forecast that Eldorado Gold Corp. will post $0.07 earnings per share for the current year.
An institutional investor recently raised its position in Eldorado Gold Corp. stock. I.G. Investment Management LTD. raised its position in shares of Eldorado Gold Corp. (NYSE:EGO) by 0.3% during the fourth quarter, according to its most recent 13F filing 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 SEC filing.
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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