Eldorado Gold (NYSE:EGO) Downgraded by ATB Cormark Capital Markets to Hold

Eldorado Gold (NYSE:EGO) (TSE:ELD) was downgraded by stock analysts at ATB Cormark Capital Markets from a “moderate buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Scotiabank reduced their price target on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 21st. Canadian Imperial Bank of Commerce lowered shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price target for the company. in a research report on Friday, February 20th. Royal Bank Of Canada lowered shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target for the company. in a research report on Tuesday, February 17th. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, TD Securities cut their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Eldorado Gold has an average rating of “Hold” and a consensus target price of $44.50.

Eldorado Gold Price Performance

EGO opened at $28.74 on Monday. The firm has a market cap of $5.71 billion, a P/E ratio of 10.23, a PEG ratio of 0.17 and a beta of 0.56. The firm has a 50-day moving average of $36.62 and a 200 day moving average of $35.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. Eldorado Gold has a fifty-two week low of $17.18 and a fifty-two week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.26. The company had revenue of $532.43 million during the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.72%. On average, research analysts expect that Eldorado Gold will post 4.36 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC bought a new position in Eldorado Gold during the fourth quarter worth about $33,000. Flagship Harbor Advisors LLC bought a new position in shares of Eldorado Gold in the fourth quarter valued at approximately $36,000. Aventura Private Wealth LLC bought a new position in shares of Eldorado Gold in the fourth quarter valued at approximately $36,000. Wexford Capital LP purchased a new position in Eldorado Gold during the third quarter valued at approximately $37,000. Finally, Headlands Technologies LLC bought a new stake in Eldorado Gold during the 2nd quarter worth approximately $32,000. 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.