Eldorado Gold (EGO) Shares Gap Up to $3.62

Shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) gapped up prior to trading on Wednesday . The stock had previously closed at $3.77, but opened at $3.62. Eldorado Gold shares last traded at $3.49, with a volume of 1168879 shares trading hands.

A number of brokerages have weighed in on EGO. TD Securities cut their target price on shares of Eldorado Gold from $4.50 to $4.25 and set a “hold” rating on the stock in a research report on Tuesday, May 7th. Zacks Investment Research lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lowered shares of Eldorado Gold from a “neutral” rating to an “underweight” rating in a research report on Thursday. BMO Capital Markets upgraded shares of Eldorado Gold from a “market perform” rating to an “outperform” rating and set a $3.81 target price on the stock in a research report on Friday, February 1st. Finally, CIBC lowered shares of Eldorado Gold from a “neutral” rating to a “sector underperform” rating in a research report on Thursday, January 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $4.77.

The company has a current ratio of 3.98, a quick ratio of 2.70 and a debt-to-equity ratio of 0.18. The stock has a market cap of $558.98 million, a price-to-earnings ratio of -21.41, a P/E/G ratio of 12.64 and a beta of 1.66.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $80.02 million for the quarter, compared to analyst estimates of $113.85 million. Eldorado Gold had a negative return on equity of 1.40% and a negative net margin of 97.68%. As a group, equities research analysts forecast that Eldorado Gold Corp will post 0.06 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Brave Asset Management Inc. bought a new position in Eldorado Gold during the fourth quarter worth $36,000. Legal & General Group Plc raised its stake in Eldorado Gold by 2.5% during the third quarter. Legal & General Group Plc now owns 565,071 shares of the basic materials company’s stock worth $494,000 after buying an additional 13,649 shares during the last quarter. Signition LP bought a new position in Eldorado Gold during the fourth quarter worth $43,000. Hsbc Holdings PLC bought a new position in Eldorado Gold during the first quarter worth $87,000. Finally, King Luther Capital Management Corp bought a new position in Eldorado Gold during the first quarter worth $94,000. Institutional investors own 41.47% of the company’s stock.

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Eldorado Gold Company Profile (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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