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.
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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