Zacks Investment Research cut shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a strong sell rating in a report issued on Friday.

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

EGO has been the subject of several other reports. TD Securities downgraded Eldorado Gold from a hold rating to a reduce rating and reduced their price objective for the stock from $1.15 to $0.80 in a report on Thursday, September 6th. National Bank Financial began coverage on Eldorado Gold in a report on Thursday, October 18th. They issued an outperform rating for the company. Finally, Canaccord Genuity reiterated a hold rating on shares of Eldorado Gold in a report on Monday, October 22nd. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $1.12.

EGO opened at $0.77 on Friday. The company has a quick ratio of 5.59, a current ratio of 7.19 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $611.39 million, a PE ratio of 38.50 and a beta of 1.38. Eldorado Gold has a 1 year low of $0.73 and a 1 year high of $1.47.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $81.07 million during the quarter, compared to analysts’ expectations of $107.21 million. Eldorado Gold had a negative return on equity of 0.27% and a negative net margin of 35.17%. Sell-side analysts forecast that Eldorado Gold will post -0.01 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Capital LLC bought a new stake in Eldorado Gold in the 2nd quarter worth about $111,000. Cubist Systematic Strategies LLC bought a new stake in Eldorado Gold in the 1st quarter worth about $280,000. Russell Investments Group Ltd. increased its holdings in Eldorado Gold by 479.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 346,881 shares of the basic materials company’s stock worth $343,000 after buying an additional 287,028 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Eldorado Gold by 165.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 512,250 shares of the basic materials company’s stock worth $509,000 after buying an additional 319,046 shares in the last quarter. Finally, A.R.T. Advisors LLC increased its holdings in Eldorado Gold by 334.4% in the 1st quarter. A.R.T. Advisors LLC now owns 856,210 shares of the basic materials company’s stock worth $719,000 after buying an additional 659,100 shares in the last quarter. Institutional investors own 40.53% of the company’s stock.

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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Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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