Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) shares hit a new 52-week low during trading on Friday . The company traded as low as $2.33 and last traded at $2.33, with a volume of 3,640,973 shares traded. The stock had previously closed at $2.40.
A number of brokerages recently commented on EGO. BidaskClub upgraded Eldorado Gold Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday. Credit Suisse Group downgraded Eldorado Gold Corporation from a “neutral” rating to an “underperform” rating and set a $2.40 price objective for the company. in a research note on Monday, July 31st. Canaccord Genuity cut Eldorado Gold Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Royal Bank Of Canada set a $4.00 price target on Eldorado Gold Corporation and gave the stock a “buy” rating in a research note on Monday, June 12th. Finally, Scotiabank cut Eldorado Gold Corporation from an “outperform” rating to a “sector perform” rating and set a $4.00 price target for the company. in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.68.
The firm’s 50-day moving average is $2.31 and its 200-day moving average is $3.06. The firm’s market cap is $1.34 billion.
Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share for the quarter. The firm had revenue of $82.70 million for the quarter, compared to analyst estimates of $104.71 million. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. The company’s revenue for the quarter was down 22.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, equities research analysts predict that Eldorado Gold Corporation will post $0.04 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Rehmann Capital Advisory Group purchased a new stake in shares of Eldorado Gold Corporation during the second quarter worth approximately $104,000. Karp Capital Management Corp purchased a new stake in shares of Eldorado Gold Corporation during the first quarter worth approximately $116,000. Aperio Group LLC raised its stake in shares of Eldorado Gold Corporation by 28.6% in the second quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock worth $116,000 after buying an additional 9,745 shares during the period. Balyasny Asset Management LLC raised its stake in shares of Eldorado Gold Corporation by 43.7% in the second quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock worth $120,000 after buying an additional 13,889 shares during the period. Finally, Essex Investment Management Co. LLC increased its stake in Eldorado Gold Corporation by 2.2% in the second quarter. Essex Investment Management Co. LLC now owns 52,990 shares of the basic materials company’s stock worth $140,000 after buying an additional 1,148 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.
About Eldorado Gold Corporation
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.
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