Eldorado Gold Corporation (EGO) Shares Gap Down After Analyst Downgrade

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) gapped down prior to trading on Tuesday after Scotiabank lowered their price target on the stock from $3.25 to $3.00. The stock had previously closed at $1.92, but opened at $1.93. Scotiabank currently has a sector perform rating on the stock. Eldorado Gold Corporation shares last traded at $1.97, with a volume of 3,371,966 shares.

A number of other brokerages also recently weighed in on EGO. TD Securities reissued a “buy” rating on shares of Eldorado Gold Corporation in a report on Tuesday, May 16th. ValuEngine downgraded shares of Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Royal Bank Of Canada reissued a “buy” rating on shares of Eldorado Gold Corporation in a report on Tuesday, June 6th. CIBC downgraded shares of Eldorado Gold Corporation from a “sector perform” rating to a “sector underperform” rating in a report on Wednesday, June 28th. Finally, Credit Suisse Group downgraded shares of Eldorado Gold Corporation from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $5.25 to $3.25 in a report on Thursday, June 29th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $4.27.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGO. Capstone Asset Management Co. lifted its holdings in Eldorado Gold Corporation by 3.6% during the first quarter. Capstone Asset Management Co. now owns 72,551 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 2,530 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Eldorado Gold Corporation by 4.0% during the first quarter. Russell Investments Group Ltd. now owns 686,248 shares of the basic materials company’s stock valued at $2,341,000 after purchasing an additional 26,588 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Eldorado Gold Corporation by 100.3% during the first quarter. Wells Fargo & Company MN now owns 440,728 shares of the basic materials company’s stock valued at $1,503,000 after purchasing an additional 220,647 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Eldorado Gold Corporation by 2.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,805,480 shares of the basic materials company’s stock valued at $9,596,000 after purchasing an additional 54,966 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Eldorado Gold Corporation by 5.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 278,872 shares of the basic materials company’s stock valued at $951,000 after purchasing an additional 14,474 shares during the last quarter. 55.08% of the stock is currently owned by institutional investors and hedge funds.

The firm’s market cap is $1.41 billion. The company’s 50 day moving average is $2.03 and its 200-day moving average is $2.84.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.01 earnings per share for the quarter. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. The firm had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $104.71 million. During the same period in the previous year, the firm earned ($0.01) EPS. The business’s quarterly revenue was down 22.8% on a year-over-year basis. On average, analysts anticipate that Eldorado Gold Corporation will post $0.04 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Eldorado Gold Corporation (EGO) Shares Gap Down After Analyst Downgrade” was originally published by Stock Observer and is the property of of Stock Observer. If you are viewing this news story on another site, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this news story can be viewed at https://www.thestockobserver.com/2017/09/12/eldorado-gold-corporation-ego-shares-gap-down-after-analyst-downgrade.html.

Eldorado Gold Corporation Company Profile

Eldorado Gold Corporation (Eldorado) is a gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil.

Receive News & Ratings for Eldorado Gold Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eldorado Gold Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply