Eldorado Gold Corporation (EGO) Lowered to “Neutral” at J P Morgan Chase & Co

J P Morgan Chase & Co downgraded shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) from an overweight rating to a neutral rating in a report released on Monday morning.

Several other brokerages have also recently weighed in on EGO. Canaccord Genuity cut Eldorado Gold Corporation from a buy rating to a hold rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Eldorado Gold Corporation from a sell rating to a hold rating in a research report on Monday, October 9th. Credit Suisse Group AG upgraded Eldorado Gold Corporation from an underperform rating to a neutral rating in a research report on Monday, September 25th. Scotiabank cut Eldorado Gold Corporation from an outperform rating to a sector perform rating and set a $4.00 price target on the stock. in a research report on Monday, July 31st. Finally, TD Securities set a $4.00 price target on Eldorado Gold Corporation and gave the company a buy rating in a research report on Friday, October 20th. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock has an average rating of Hold and an average target price of $2.78.

Eldorado Gold Corporation (EGO) traded down $0.04 during midday trading on Monday, reaching $1.17. 6,860,600 shares of the company’s stock traded hands, compared to its average volume of 6,794,457. The stock has a market capitalization of $960.75, a P/E ratio of 60.50 and a beta of 1.17. Eldorado Gold Corporation has a 1-year low of $1.16 and a 1-year high of $3.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.16 and a current ratio of 7.80.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.01) EPS for the quarter. The business had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $100.63 million. Eldorado Gold Corporation had a negative net margin of 5.02% and a positive return on equity of 0.51%. Eldorado Gold Corporation’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share.

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Hedge funds have recently bought and sold shares of the stock. Rehmann Capital Advisory Group bought a new position in shares of Eldorado Gold Corporation in the second quarter worth approximately $104,000. Aperio Group LLC increased its position in shares of Eldorado Gold Corporation by 28.6% in the second quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 9,745 shares during the last quarter. Balyasny Asset Management LLC increased its position in shares of Eldorado Gold Corporation by 43.7% in the second quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 13,889 shares during the last quarter. Essex Investment Management Co. LLC increased its position in shares of Eldorado Gold Corporation by 2.2% in the second quarter. Essex Investment Management Co. LLC now owns 52,990 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 1,148 shares during the last quarter. Finally, Advisor Group Inc. increased its position in shares of Eldorado Gold Corporation by 2.9% in the second quarter. Advisor Group Inc. now owns 67,710 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 1,882 shares during the last quarter. Institutional investors own 50.99% of the company’s stock.

Eldorado Gold Corporation Company Profile

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.

Analyst Recommendations for Eldorado Gold Corporation (NYSE:EGO)

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