Eldorado Gold Corporation (EGO) Trading 5% Higher

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) shares traded up 5% during mid-day trading on Friday . The company traded as high as $1.28 and last traded at $1.26. 9,829,040 shares changed hands during trading, an increase of 45% from the average session volume of 6,788,625 shares. The stock had previously closed at $1.20.

A number of research analysts recently issued reports on the stock. Canaccord Genuity cut shares of Eldorado Gold Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research raised shares of Eldorado Gold Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Credit Suisse Group raised shares of Eldorado Gold Corporation from an “underperform” rating to a “neutral” rating in a research report on Monday, September 25th. Scotiabank cut shares of Eldorado Gold Corporation from an “outperform” rating to a “sector perform” rating and set a $4.00 price target for the company. in a research report on Monday, July 31st. Finally, TD Securities set a $4.00 target price on shares of Eldorado Gold Corporation and gave the stock a “buy” rating in a report on Friday, October 20th. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Eldorado Gold Corporation currently has an average rating of “Hold” and a consensus price target of $2.58.

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.16 and a current ratio of 7.80. The company has a market cap of $1,000.45, a PE ratio of 63.00 and a beta of 1.17.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in EGO. Shell Asset Management Co. boosted its position in shares of Eldorado Gold Corporation by 2,884.9% in the third quarter. Shell Asset Management Co. now owns 780,973 shares of the basic materials company’s stock worth $5,896,000 after purchasing an additional 754,809 shares during the period. Balyasny Asset Management LLC lifted its holdings 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 buying an additional 13,889 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in shares of Eldorado Gold Corporation by 83.9% in the second quarter. Intact Investment Management Inc. now owns 5,351,900 shares of the basic materials company’s stock worth $18,196,000 after buying an additional 2,441,800 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Eldorado Gold Corporation by 15.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,848,322 shares of the basic materials company’s stock worth $4,880,000 after buying an additional 253,684 shares in the last quarter. Finally, ASA Gold & Precious Metals Ltd lifted its holdings in shares of Eldorado Gold Corporation by 137.9% in the third quarter. ASA Gold & Precious Metals Ltd now owns 1,546,570 shares of the basic materials company’s stock worth $3,402,000 after buying an additional 896,570 shares in the last quarter. Institutional investors own 50.99% of the company’s stock.

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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.

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