Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) had its price target lowered by Scotiabank from $3.25 to $3.00 in a research report issued on Tuesday. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective would suggest a potential upside of 31.00% from the company’s previous close.

Several other equities analysts have also weighed in on EGO. TD Securities reaffirmed a “buy” rating on shares of Eldorado Gold Corporation in a research report on Tuesday, May 16th. ValuEngine lowered shares of Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Eldorado Gold Corporation in a research report on Tuesday, June 6th. CIBC lowered shares of Eldorado Gold Corporation from a “sector perform” rating to a “sector underperform” rating in a research report on Wednesday, June 28th. Finally, Credit Suisse Group lowered shares of Eldorado Gold Corporation from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $5.25 to $3.25 in a research report on Thursday, June 29th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $4.27.

Shares of Eldorado Gold Corporation (EGO) opened at 2.29 on Tuesday. The stock’s market capitalization is $1.64 billion. The firm’s 50-day moving average is $2.02 and its 200 day moving average is $2.83. Eldorado Gold Corporation has a 1-year low of $1.77 and a 1-year high of $4.34.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $82.70 million during the quarter, compared to analyst estimates of $104.71 million. Eldorado Gold Corporation had a net margin of 1.00% and a return on equity of 1.41%. The firm’s revenue was down 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. On average, analysts expect that Eldorado Gold Corporation will post $0.04 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group acquired a new stake in Eldorado Gold Corporation in the second quarter valued at about $104,000. Karp Capital Management Corp acquired a new stake in Eldorado Gold Corporation in the first quarter valued at about $116,000. Aperio Group LLC boosted its stake in Eldorado Gold Corporation by 28.6% in the second quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock valued at $116,000 after buying an additional 9,745 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in Eldorado Gold Corporation by 43.7% in the second quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock valued at $120,000 after buying an additional 13,889 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its stake in Eldorado Gold Corporation by 2.2% in the second quarter. Essex Investment Management Co. LLC now owns 52,990 shares of the basic materials company’s stock valued at $140,000 after buying an additional 1,148 shares in the last quarter. 55.08% of the stock is currently owned by institutional investors.

About Eldorado Gold Corporation

Eldorado Gold Corporation (Eldorado) is a gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil.

Analyst Recommendations for Eldorado Gold Corporation (NYSE:EGO)

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