Eldorado Gold (EGO) Reaches New 1-Year Low at $1.12

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.12 and last traded at $1.15, with a volume of 2803000 shares traded. The stock had previously closed at $1.16.

A number of equities analysts have issued reports on EGO shares. Royal Bank Of Canada cut their price target on Eldorado Gold from $3.50 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 29th. Credit Suisse Group cut Eldorado Gold from a “neutral” rating to an “underperform” rating in a report on Monday, October 23rd. ValuEngine cut Eldorado Gold from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Zacks Investment Research cut Eldorado Gold from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, Macquarie lowered Eldorado Gold from an “outperform” rating to a “neutral” rating in a research report on Tuesday, September 12th. Six equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $1.98.

The stock has a market capitalization of $893.49, a PE ratio of 56.00 and a beta of 1.14. The company has a current ratio of 7.80, a quick ratio of 6.16 and a debt-to-equity ratio of 0.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter. Eldorado Gold had a negative net margin of 5.02% and a positive return on equity of 0.51%. The business had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $100.63 million. During the same period in the prior year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in Eldorado Gold by 7.9% in the 3rd quarter. Van ECK Associates Corp now owns 77,400,839 shares of the basic materials company’s stock worth $170,265,000 after acquiring an additional 5,673,050 shares during the last quarter. Franklin Resources Inc. increased its holdings in Eldorado Gold by 18.7% in the 2nd quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock worth $134,866,000 after acquiring an additional 8,006,424 shares during the last quarter. Vanguard Group Inc. increased its holdings in Eldorado Gold by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock worth $53,984,000 after acquiring an additional 617,087 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Eldorado Gold by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,609,444 shares of the basic materials company’s stock worth $33,290,000 after acquiring an additional 824,770 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Eldorado Gold by 19.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 7,718,257 shares of the basic materials company’s stock worth $20,480,000 after acquiring an additional 1,275,000 shares during the last quarter. 52.94% of the stock is owned by institutional investors.

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Eldorado Gold Company Profile

Eldorado Gold Corp is a Canada-based 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, the Tocantinzinho project and exploration activities in Brazil.

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