Eldorado Gold Corp. (EGO) Trading Up 2.2%
Eldorado Gold Corp. (NYSE:EGO) shares were up 2.2% during mid-day trading on Tuesday . The stock traded as high as $4.28 and last traded at $4.18, with a volume of 3,951,586 shares. The stock had previously closed at $4.09.
Several research analysts have issued reports on EGO shares. Scotiabank upgraded Eldorado Gold Corp. from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 18th. HSBC reiterated a “buy” rating on shares of Eldorado Gold Corp. in a report on Thursday, July 7th. Canaccord Genuity raised Eldorado Gold Corp. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $5.75 to $7.00 in a research note on Monday, May 9th. Credit Suisse Group AG reissued a “buy” rating and issued a $6.00 price objective on shares of Eldorado Gold Corp. in a research note on Sunday, June 5th. Finally, Raymond James Financial Inc. raised Eldorado Gold Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 27th. 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. The company has a consensus rating of “Buy” and an average target price of $4.98.
The firm’s market cap is $2.95 billion. The firm has a 50 day moving average of $4.48 and a 200 day moving average of $3.74.
Eldorado Gold Corp. (NYSE:EGO) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The firm had revenue of $107 million for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.02 earnings per share. On average, analysts predict that Eldorado Gold Corp. will post $0.06 earnings per share for the current year.
An institutional investor recently raised its position in Eldorado Gold Corp. stock. I.G. Investment Management LTD. boosted its stake in Eldorado Gold Corp. (NYSE:EGO) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 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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