Eldorado Gold (NYSE:EGO) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 15th. Scotiabank cut their price target on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Weiss Ratings lowered Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Royal Bank Of Canada dropped their price target on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Finally, TD Cowen cut their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Eldorado Gold presently has an average rating of “Hold” and an average price target of $41.83.

Eldorado Gold Stock Performance

EGO stock opened at $31.93 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.22 and a beta of 0.62. Eldorado Gold has a 1 year low of $20.39 and a 1 year high of $51.16. The stock’s fifty day moving average is $31.36 and its two-hundred day moving average is $35.89.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The business had revenue of $532.43 million during the quarter, compared to analyst estimates of $503.31 million. On average, research analysts predict that Eldorado Gold will post 3.41 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently bought and sold shares of the business. Linden Thomas Advisory Services LLC boosted its holdings in shares of Eldorado Gold by 4.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,896 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 318 shares during the period. Savant Capital LLC increased its stake in Eldorado Gold by 2.7% in the 4th quarter. Savant Capital LLC now owns 14,135 shares of the basic materials company’s stock valued at $508,000 after buying an additional 371 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Eldorado Gold by 0.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company’s stock valued at $1,794,000 after buying an additional 582 shares during the period. EverSource Wealth Advisors LLC lifted its position in Eldorado Gold by 8.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company’s stock worth $351,000 after buying an additional 819 shares in the last quarter. Finally, Smartleaf Asset Management LLC purchased a new stake in Eldorado Gold in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation is a Canada?based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced?stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.