Eldorado Gold Corporation (EGO) Downgraded by Bank of America Corporation

Bank of America Corporation lowered shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) from a buy rating to a neutral rating in a report released on Tuesday morning, Marketbeat.com reports.

Several other equities research analysts have also commented on the stock. Royal Bank Of Canada decreased their price objective on shares of Eldorado Gold Corporation from $3.50 to $3.00 and set a sector perform rating on the stock in a research report on Tuesday, August 29th. Credit Suisse Group lowered shares of Eldorado Gold Corporation from a neutral rating to an underperform rating in a research report on Monday, October 23rd. ValuEngine lowered shares of Eldorado Gold Corporation from a hold rating to a sell rating in a research report on Friday, September 1st. Macquarie lowered shares of Eldorado Gold Corporation from an outperform rating to a neutral rating in a research report on Tuesday, September 12th. Finally, Zacks Investment Research lowered shares of Eldorado Gold Corporation from a hold rating to a sell rating in a report on Tuesday, September 12th. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has an average rating of Hold and an average target price of $2.88.

Eldorado Gold Corporation (NYSE EGO) traded down $0.02 during trading on Tuesday, hitting $1.23. 2,352,696 shares of the company traded hands, compared to its average volume of 9,757,794. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.61 and a current ratio of 7.80. The firm has a market capitalization of $992.51 million, a PE ratio of 62.50 and a beta of 1.17.

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

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A number of large investors have recently added to or reduced their stakes in EGO. Karp Capital Management Corp purchased a new position in Eldorado Gold Corporation in the 1st quarter valued at about $116,000. Vanguard Group Inc. lifted its holdings in Eldorado Gold Corporation by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock valued at $53,984,000 after purchasing an additional 617,087 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Eldorado Gold Corporation by 10.1% in the 1st quarter. Geode Capital Management LLC now owns 343,844 shares of the basic materials company’s stock valued at $1,170,000 after purchasing an additional 31,603 shares in the last quarter. Morgan Stanley lifted its holdings in Eldorado Gold Corporation by 47.8% in the 1st quarter. Morgan Stanley now owns 5,560,594 shares of the basic materials company’s stock valued at $18,961,000 after purchasing an additional 1,798,264 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Eldorado Gold Corporation by 76.5% in the 1st quarter. Bank of America Corp DE now owns 1,196,973 shares of the basic materials company’s stock valued at $4,082,000 after purchasing an additional 518,656 shares in the last quarter. Institutional investors own 55.47% of the company’s stock.

About Eldorado Gold Corporation

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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