Zacks Investment Research upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a strong sell rating to a hold rating in a research note published on Tuesday, December 26th.
According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “
Other equities analysts have also recently issued research reports about the company. ValuEngine cut Eldorado Gold from a hold rating to a sell rating in a research note on Friday, September 1st. TD Securities set a $4.00 price target on Eldorado Gold and gave the company a buy rating in a report on Friday, October 20th. Royal Bank of Canada lowered Eldorado Gold from an outperform rating to a hold rating and reduced their price target for the company from $3.00 to $1.75 in a report on Tuesday, October 24th. Scotiabank set a $2.00 target price on Eldorado Gold and gave the stock a sector perform rating in a report on Friday, November 17th. Finally, JPMorgan Chase & Co. lowered Eldorado Gold from an overweight rating to a neutral rating in a report on Monday, November 13th. Six investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $1.98.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $95.35 million during the quarter, compared to analyst estimates of $100.63 million. Eldorado Gold had a negative net margin of 5.02% and a positive return on equity of 0.51%. The firm’s revenue was down 18.0% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS.
A number of institutional investors have recently bought and sold shares of EGO. Shell Asset Management Co. lifted its stake in Eldorado Gold by 2,884.9% in the third quarter. Shell Asset Management Co. now owns 780,973 shares of the basic materials company’s stock valued at $5,896,000 after buying an additional 754,809 shares during the period. Balyasny Asset Management LLC lifted its stake in Eldorado Gold by 43.7% in the second quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock valued at $120,000 after buying an additional 13,889 shares during the period. Intact Investment Management Inc. lifted its stake in Eldorado Gold by 83.9% in the second quarter. Intact Investment Management Inc. now owns 5,351,900 shares of the basic materials company’s stock valued at $18,196,000 after buying an additional 2,441,800 shares during the period. ASA Gold & Precious Metals Ltd lifted its stake in Eldorado Gold by 137.9% in the third quarter. ASA Gold & Precious Metals Ltd now owns 1,546,570 shares of the basic materials company’s stock valued at $3,402,000 after buying an additional 896,570 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in Eldorado Gold by 15.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,848,322 shares of the basic materials company’s stock valued at $4,880,000 after buying an additional 253,684 shares during the period. 52.90% of the stock is currently owned by institutional investors.
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About Eldorado Gold
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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