Eldorado Gold (EGO) Trading Down 2.2% After Analyst Downgrade

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) traded down 2.2% during mid-day trading on Friday after TD Securities lowered their price target on the stock from $1.60 to $1.20. TD Securities currently has a hold rating on the stock. Eldorado Gold traded as low as $0.92 and last traded at $0.90. 9,219,629 shares were traded during mid-day trading, a decline of 10% from the average session volume of 10,260,036 shares. The stock had previously closed at $0.92.

EGO has been the subject of several other reports. Zacks Investment Research raised Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Desjardins reissued a “hold” rating on shares of Eldorado Gold in a research note on Monday, December 11th. Macquarie raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 17th. ValuEngine lowered Eldorado Gold from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Scotiabank set a $1.50 target price on Eldorado Gold and gave the stock a “hold” rating in a research report on Friday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Eldorado Gold presently has a consensus rating of “Hold” and a consensus target price of $1.45.

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A number of hedge funds have recently modified their holdings of EGO. Northern Trust Corp increased its position in Eldorado Gold by 96.7% in the 2nd quarter. Northern Trust Corp now owns 520,088 shares of the basic materials company’s stock worth $1,374,000 after purchasing an additional 255,639 shares during the last quarter. Swiss National Bank increased its position in Eldorado Gold by 10.9% in the 3rd quarter. Swiss National Bank now owns 1,372,100 shares of the basic materials company’s stock worth $3,014,000 after purchasing an additional 135,000 shares during the last quarter. ING Groep NV increased its position in Eldorado Gold by 296.1% in the 3rd quarter. ING Groep NV now owns 193,952 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 144,985 shares during the last quarter. TD Asset Management Inc. increased its position in Eldorado Gold by 2.3% in the 3rd quarter. TD Asset Management Inc. now owns 7,143,133 shares of the basic materials company’s stock worth $15,650,000 after purchasing an additional 158,554 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Eldorado Gold by 15.1% in the 3rd quarter. Legal & General Group Plc now owns 667,020 shares of the basic materials company’s stock worth $1,462,000 after purchasing an additional 87,400 shares during the last quarter. 51.61% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 0.16, a current ratio of 7.80 and a quick ratio of 6.16. The company has a market cap of $825.77, a PE ratio of -29.99, a price-to-earnings-growth ratio of 6.57 and a beta of 1.25.

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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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