Eldorado Gold (EGO) Shares Gap Down to $3.42
Shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) gapped down prior to trading on Monday . The stock had previously closed at $2.91, but opened at $3.42. Eldorado Gold shares last traded at $3.61, with a volume of 55714 shares.
EGO has been the subject of several analyst reports. CIBC downgraded Eldorado Gold from a “neutral” rating to a “sector underperform” rating in a research note on Thursday, January 31st. Zacks Investment Research raised Eldorado Gold from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Wednesday, March 20th. BMO Capital Markets raised Eldorado Gold from a “market perform” rating to an “outperform” rating and set a $3.81 target price for the company in a report on Friday, February 1st. Credit Suisse Group started coverage on Eldorado Gold in a report on Tuesday, April 16th. They issued a “neutral” rating and a $6.00 target price for the company. Finally, ValuEngine lowered Eldorado Gold from a “hold” rating to a “sell” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Eldorado Gold has an average rating of “Hold” and an average price target of $4.77.
The firm has a market cap of $543.10 million, a PE ratio of -20.65, a P/E/G ratio of 5.04 and a beta of 1.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.63 and a quick ratio of 2.66.
Several hedge funds have recently added to or reduced their stakes in EGO. Brave Asset Management Inc. bought a new position in shares of Eldorado Gold in the fourth quarter valued at approximately $36,000. Signition LP bought a new position in Eldorado Gold during the fourth quarter valued at $43,000. Acadian Asset Management LLC bought a new position in Eldorado Gold during the fourth quarter valued at $98,000. Two Sigma Investments LP bought a new position in Eldorado Gold during the fourth quarter valued at $106,000. Finally, Two Sigma Advisers LP bought a new position in Eldorado Gold during the fourth quarter valued at $156,000. 42.75% of the stock is owned by institutional investors.
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About Eldorado Gold (NYSE:EGO)
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 100% interest in Tocantinzinho gold project in Brazil.
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