Eldorado Gold Corporation (EGO) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) from a sell rating to a hold rating in a research note released on Monday.

According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “

EGO has been the topic of a number of other research reports. ValuEngine cut Eldorado Gold Corporation from a hold rating to a sell rating in a report on Friday, September 1st. Credit Suisse Group cut Eldorado Gold Corporation from a neutral rating to an underperform rating and set a $2.40 target price on the stock. in a report on Monday, July 31st. TD Securities reduced their target price on Eldorado Gold Corporation from $4.75 to $4.25 and set a buy rating on the stock in a report on Tuesday, September 12th. Royal Bank Of Canada reduced their target price on Eldorado Gold Corporation from $3.50 to $3.00 and set a sector perform rating on the stock in a report on Tuesday, August 29th. Finally, Scotiabank reduced their target price on Eldorado Gold Corporation from $3.25 to $3.00 and set a sector perform rating on the stock in a report on Tuesday, September 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Eldorado Gold Corporation has a consensus rating of Hold and a consensus price target of $3.94.

Shares of Eldorado Gold Corporation (EGO) opened at 2.35 on Monday. Eldorado Gold Corporation has a 12 month low of $1.77 and a 12 month high of $3.91. The firm has a 50-day moving average of $2.15 and a 200 day moving average of $2.72. The company’s market capitalization is $1.68 billion.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. The firm had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $104.71 million. During the same quarter last year, the business earned ($0.01) earnings per share. The company’s revenue was down 22.8% compared to the same quarter last year. On average, equities research analysts expect that Eldorado Gold Corporation will post $0.04 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Eldorado Gold Corporation by 35.1% during the second quarter. Van ECK Associates Corp now owns 71,727,789 shares of the basic materials company’s stock worth $189,361,000 after purchasing an additional 18,636,491 shares during the period. Franklin Resources Inc. raised its position in shares of Eldorado Gold Corporation by 18.7% during the second quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock worth $134,866,000 after purchasing an additional 8,006,424 shares during the period. Vanguard Group Inc. raised its position in shares of Eldorado Gold Corporation by 4.1% during the first quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock worth $53,984,000 after purchasing an additional 617,087 shares during the period. Hexavest Inc. raised its position in shares of Eldorado Gold Corporation by 121.5% during the second quarter. Hexavest Inc. now owns 15,523,735 shares of the basic materials company’s stock worth $41,023,000 after purchasing an additional 8,515,065 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Eldorado Gold Corporation by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 12,609,444 shares of the basic materials company’s stock worth $33,290,000 after purchasing an additional 824,770 shares during the period. 55.07% of the stock is currently owned by institutional investors.

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)

According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “

EGO has been the topic of a number of other research reports. ValuEngine cut Eldorado Gold Corporation from a hold rating to a sell rating in a report on Friday, September 1st. Credit Suisse Group cut Eldorado Gold Corporation from a neutral rating to an underperform rating and set a $2.40 target price on the stock. in a report on Monday, July 31st. TD Securities reduced their target price on Eldorado Gold Corporation from $4.75 to $4.25 and set a buy rating on the stock in a report on Tuesday, September 12th. Royal Bank Of Canada reduced their target price on Eldorado Gold Corporation from $3.50 to $3.00 and set a sector perform rating on the stock in a report on Tuesday, August 29th. Finally, Scotiabank reduced their target price on Eldorado Gold Corporation from $3.25 to $3.00 and set a sector perform rating on the stock in a report on Tuesday, September 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Eldorado Gold Corporation has a consensus rating of Hold and a consensus price target of $3.94.

Shares of Eldorado Gold Corporation (EGO) opened at 2.35 on Monday. Eldorado Gold Corporation has a 12 month low of $1.77 and a 12 month high of $3.91. The firm has a 50-day moving average of $2.15 and a 200 day moving average of $2.72. The company’s market capitalization is $1.68 billion.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. The firm had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $104.71 million. During the same quarter last year, the business earned ($0.01) earnings per share. The company’s revenue was down 22.8% compared to the same quarter last year. On average, equities research analysts expect that Eldorado Gold Corporation will post $0.04 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was stolen and reposted in violation of United States & international copyright & trademark law. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/10/eldorado-gold-corporation-ego-upgraded-to-hold-at-zacks-investment-research.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Eldorado Gold Corporation by 35.1% during the second quarter. Van ECK Associates Corp now owns 71,727,789 shares of the basic materials company’s stock worth $189,361,000 after purchasing an additional 18,636,491 shares during the period. Franklin Resources Inc. raised its position in shares of Eldorado Gold Corporation by 18.7% during the second quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock worth $134,866,000 after purchasing an additional 8,006,424 shares during the period. Vanguard Group Inc. raised its position in shares of Eldorado Gold Corporation by 4.1% during the first quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock worth $53,984,000 after purchasing an additional 617,087 shares during the period. Hexavest Inc. raised its position in shares of Eldorado Gold Corporation by 121.5% during the second quarter. Hexavest Inc. now owns 15,523,735 shares of the basic materials company’s stock worth $41,023,000 after purchasing an additional 8,515,065 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Eldorado Gold Corporation by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 12,609,444 shares of the basic materials company’s stock worth $33,290,000 after purchasing an additional 824,770 shares during the period. 55.07% of the stock is currently owned by institutional investors.

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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