Royal Bank Of Canada Cuts Eldorado Gold Corporation (EGO) Price Target to $1.50

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) had its target price trimmed by Royal Bank Of Canada from $1.75 to $1.50 in a research report released on Thursday morning. The firm currently has an underperform rating on the basic materials company’s stock.

Several other equities research analysts also recently weighed in on EGO. Bank of America Corporation downgraded shares of Eldorado Gold Corporation from a buy rating to a neutral rating in a research note on Tuesday, October 31st. Zacks Investment Research downgraded shares of Eldorado Gold Corporation from a hold rating to a sell rating in a research note on Monday, October 30th. TD Securities downgraded shares of Eldorado Gold Corporation from a buy rating to a hold rating and cut their target price for the stock from $4.25 to $2.50 in a research note on Tuesday, October 24th. Credit Suisse Group downgraded shares of Eldorado Gold Corporation from a neutral rating to an underperform rating in a research note on Monday, October 23rd. Finally, Scotiabank cut their target price on shares of Eldorado Gold Corporation from $3.25 to $3.00 and set a sector perform rating on the stock in a research note on Tuesday, September 12th. Six investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $2.88.

Shares of Eldorado Gold Corporation (NYSE EGO) remained flat at $$1.25 during mid-day trading on Thursday. The company had a trading volume of 5,367,055 shares, compared to its average volume of 9,757,794. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.80 and a quick ratio of 10.61. The company has a market cap of $992.51, a PE ratio of 62.50 and a beta of 1.17.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last issued 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 company had revenue of $95.35 million during the quarter, compared to analyst estimates of $100.63 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The business’s revenue was down 18.0% compared to the same quarter last year.

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Several large investors have recently made changes to their positions in EGO. Rehmann Capital Advisory Group purchased a new stake in shares of Eldorado Gold Corporation in the 2nd quarter valued at approximately $104,000. Karp Capital Management Corp purchased a new position in shares of Eldorado Gold Corporation in the 1st quarter valued at $116,000. Aperio Group LLC grew its position in shares of Eldorado Gold Corporation by 28.6% in the 2nd quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock valued at $116,000 after buying an additional 9,745 shares during the last quarter. Balyasny Asset Management LLC grew its position in shares of Eldorado Gold Corporation by 43.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock valued at $120,000 after buying an additional 13,889 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its position in shares of Eldorado Gold Corporation by 2.2% in the 2nd quarter. Essex Investment Management Co. LLC now owns 52,990 shares of the basic materials company’s stock valued at $140,000 after buying an additional 1,148 shares during the last quarter. 55.47% of the stock is currently owned by institutional investors.

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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