Eldorado Gold Corp (ELD) Shares Down 5.9%

Shares of Eldorado Gold Corp (TSE:ELD) (NYSE:EGO) dropped 5.9% during mid-day trading on Tuesday . The company traded as low as C$2.68 and last traded at C$2.70. Approximately 1,513,542 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 2,489,340 shares. The stock had previously closed at C$2.87.

Several brokerages recently issued reports on ELD. Royal Bank of Canada reissued an “outperform” rating and set a C$5.70 target price on shares of Eldorado Gold Corp in a research report on Friday, May 26th. Eight Capital lowered their target price on shares of Eldorado Gold Corp from C$6.00 to C$5.25 in a research report on Monday, June 12th. Canaccord Genuity downgraded shares of Eldorado Gold Corp from a “buy” rating to a “speculative buy” rating and set a C$6.00 target price on the stock. in a research report on Thursday, June 15th. BMO Capital Markets reissued a “market perform” rating and set a C$4.00 target price on shares of Eldorado Gold Corp in a research report on Tuesday, July 11th. Finally, Scotiabank lowered their target price on shares of Eldorado Gold Corp to C$3.60 and set a “sector perform” rating on the stock in a research report on Tuesday, September 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Eldorado Gold Corp currently has a consensus rating of “Hold” and an average price target of C$4.94.

The company’s market capitalization is $1.97 billion. The firm’s 50 day moving average is $2.51 and its 200-day moving average is $3.70.

In other Eldorado Gold Corp news, Director Paul Nicholas Wright bought 12,500 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were purchased at an average price of C$2.60 per share, for a total transaction of C$32,500.00.

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About Eldorado Gold Corp

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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