Eldorado Gold (NYSE:EGO) Shares Gap Down – Here’s Why

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) gapped down before the market opened on Friday . The stock had previously closed at $14.67, but opened at $14.14. Eldorado Gold shares last traded at $13.87, with a volume of 669,431 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EGO shares. StockNews.com lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Thursday. Scotiabank cut their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, TD Securities cut their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

Eldorado Gold Stock Performance

The company’s 50-day moving average price is $15.01 and its 200 day moving average price is $16.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The stock has a market capitalization of $2.75 billion, a PE ratio of 9.57 and a beta of 0.93.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $440.43 million. On average, equities research analysts expect that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. lifted its position in shares of Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 682 shares during the period. CIBC Asset Management Inc lifted its position in Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock valued at $3,737,000 after acquiring an additional 804 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eldorado Gold by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company’s stock valued at $2,664,000 after acquiring an additional 1,174 shares during the period. Blue Trust Inc. lifted its position in Eldorado Gold by 232.8% during the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,336 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Eldorado Gold by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock valued at $496,000 after acquiring an additional 1,500 shares during the period. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

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.