Eldorado Gold (NYSE:EGO) Stock Price Down 3.6%

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s stock price was down 3.6% during trading on Friday . The stock traded as low as $17.81 and last traded at $17.82. Approximately 514,202 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,508,928 shares. The stock had previously closed at $18.48.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EGO. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Royal Bank of Canada increased their price objective on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. CIBC upped their target price on Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank increased their price objective on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.38.

Eldorado Gold Price Performance

The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 32.42 and a beta of 0.95. The company’s 50-day simple moving average is $17.00 and its 200 day simple moving average is $15.68.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The business had revenue of $297.14 million during the quarter. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. During the same quarter in the previous year, the business posted $0.09 EPS. Equities research analysts forecast that Eldorado Gold Co. will post 1.4 EPS for the current year.

Institutional Trading of Eldorado Gold

Hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in shares of Eldorado Gold in the second quarter valued at approximately $74,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eldorado Gold during the 2nd quarter worth $191,000. Sanctuary Advisors LLC acquired a new stake in Eldorado Gold during the 2nd quarter worth $488,000. Cetera Investment Advisers grew its holdings in Eldorado Gold by 61.0% during the 2nd quarter. Cetera Investment Advisers now owns 73,864 shares of the basic materials company’s stock worth $1,092,000 after acquiring an additional 27,991 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Eldorado Gold by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock worth $2,499,000 after purchasing an additional 2,472 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.