Zacks Investment Research downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “

Separately, TD Securities cut Eldorado Gold from a hold rating to a reduce rating and cut their price target for the company from $1.15 to $0.80 in a report on Thursday, September 6th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $1.12.

Shares of Eldorado Gold stock opened at $0.91 on Wednesday. Eldorado Gold has a 12 month low of $0.80 and a 12 month high of $2.21. The company has a market cap of $701.19 million, a price-to-earnings ratio of 45.64, a PEG ratio of 35.32 and a beta of 1.38. The company has a quick ratio of 5.59, a current ratio of 7.19 and a debt-to-equity ratio of 0.16.

Several large investors have recently bought and sold shares of EGO. Wells Fargo & Company MN increased its holdings in shares of Eldorado Gold by 8.6% in the first quarter. Wells Fargo & Company MN now owns 1,605,645 shares of the basic materials company’s stock valued at $1,348,000 after purchasing an additional 127,408 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Eldorado Gold by 1.3% in the first quarter. BlackRock Inc. now owns 7,375,118 shares of the basic materials company’s stock valued at $6,195,000 after purchasing an additional 93,219 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Eldorado Gold by 5.6% in the first quarter. Allianz Asset Management GmbH now owns 5,594,696 shares of the basic materials company’s stock valued at $4,687,000 after purchasing an additional 295,811 shares during the last quarter. UBS Group AG increased its holdings in shares of Eldorado Gold by 51.3% in the first quarter. UBS Group AG now owns 2,183,761 shares of the basic materials company’s stock valued at $1,834,000 after purchasing an additional 740,026 shares during the last quarter. Finally, A.R.T. Advisors LLC increased its holdings in shares of Eldorado Gold by 334.4% in the first quarter. A.R.T. Advisors LLC now owns 856,210 shares of the basic materials company’s stock valued at $719,000 after purchasing an additional 659,100 shares during the last quarter. 40.19% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and Tocantinzinho gold project in Brazil.

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