CIBC downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a neutral rating to a sector underperform rating in a research note published on Thursday, January 31st, MarketBeat Ratings reports.
Other equities research analysts have also recently issued reports about the company. Canaccord Genuity reiterated a hold rating on shares of Eldorado Gold in a report on Sunday, November 25th. ValuEngine raised shares of Eldorado Gold from a sell rating to a hold rating in a research note on Thursday, November 1st. BMO Capital Markets reaffirmed a hold rating on shares of Eldorado Gold in a research report on Monday, December 17th. TD Securities dropped their target price on shares of Eldorado Gold from $0.80 to $0.70 and set a reduce rating for the company in a report on Monday, October 29th. Finally, Zacks Investment Research downgraded shares of Eldorado Gold from a hold rating to a strong sell rating in a report on Friday, October 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $2.36.
Shares of EGO opened at $4.18 on Thursday. Eldorado Gold has a fifty-two week low of $2.52 and a fifty-two week high of $6.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.79 and a current ratio of 6.33. The stock has a market cap of $663.79 million, a price-to-earnings ratio of 41.80, a P/E/G ratio of 5.54 and a beta of 1.67.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brave Asset Management Inc. acquired a new position in Eldorado Gold during the fourth quarter worth about $36,000. Legal & General Group Plc grew its position in shares of Eldorado Gold by 2.5% in the third quarter. Legal & General Group Plc now owns 565,071 shares of the basic materials company’s stock valued at $494,000 after purchasing an additional 13,649 shares during the last quarter. Signition LP acquired a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $43,000. Acadian Asset Management LLC acquired a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $98,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $106,000.
About Eldorado Gold
Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and Tocantinzinho gold project in Brazil.
Further Reading: Book Value Per Share in Stock Trading