Eldorado Gold Corporation (EGO) Downgraded by Macquarie to Neutral
Macquarie downgraded shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) from an outperform rating to a neutral rating in a report published on Tuesday, MarketBeat.com reports.
Several other equities analysts have also recently weighed in on EGO. BidaskClub upgraded Eldorado Gold Corporation from a strong sell rating to a sell rating in a report on Saturday, August 12th. Credit Suisse Group cut Eldorado Gold Corporation from a neutral rating to an underperform rating and set a $2.40 price objective on the stock. in a report on Monday, July 31st. Royal Bank Of Canada set a $4.00 price objective on Eldorado Gold Corporation and gave the company a buy rating in a report on Monday, June 12th. Canaccord Genuity cut Eldorado Gold Corporation from a buy rating to a hold rating in a report on Friday, July 28th. Finally, Scotiabank cut Eldorado Gold Corporation from an outperform rating to a sector perform rating and set a $4.00 price objective on the stock. in a report on Monday, July 31st. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $4.18.
Shares of Eldorado Gold Corporation (NYSE:EGO) opened at 2.32 on Tuesday. The stock’s market capitalization is $1.66 billion. The stock has a 50 day moving average of $2.01 and a 200-day moving average of $2.81. Eldorado Gold Corporation has a 52-week low of $1.77 and a 52-week high of $4.34.
Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.01 earnings per share for the quarter. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. The business had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $104.71 million. During the same quarter in the previous year, the business posted ($0.01) EPS. Eldorado Gold Corporation’s revenue for the quarter was down 22.8% on a year-over-year basis. On average, equities research analysts predict that Eldorado Gold Corporation will post $0.04 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGO. Van ECK Associates Corp lifted its stake in Eldorado Gold Corporation by 35.1% in the 2nd quarter. Van ECK Associates Corp now owns 71,727,789 shares of the basic materials company’s stock valued at $189,361,000 after acquiring an additional 18,636,491 shares in the last quarter. Hexavest Inc. lifted its stake in Eldorado Gold Corporation by 121.5% in the 2nd quarter. Hexavest Inc. now owns 15,523,735 shares of the basic materials company’s stock valued at $41,023,000 after acquiring an additional 8,515,065 shares in the last quarter. Franklin Resources Inc. lifted its stake in Eldorado Gold Corporation by 18.7% in the 2nd quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock valued at $134,866,000 after acquiring an additional 8,006,424 shares in the last quarter. Prudential PLC bought a new stake in Eldorado Gold Corporation in the 2nd quarter valued at approximately $9,620,000. Finally, Public Sector Pension investment Board lifted its stake in Eldorado Gold Corporation by 245.3% in the 2nd quarter. Public Sector Pension investment Board now owns 3,972,278 shares of the basic materials company’s stock valued at $10,522,000 after acquiring an additional 2,821,900 shares in the last quarter. Hedge funds and other institutional investors own 55.08% of the company’s stock.
Eldorado Gold Corporation Company Profile
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.
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