Eldorado Gold (EGO) Shares Gap Up to $1.35

Shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) gapped up prior to trading on Thursday . The stock had previously closed at $1.30, but opened at $1.35. Eldorado Gold shares last traded at $1.36, with a volume of 12480400 shares trading hands.

A number of analysts have commented on EGO shares. TD Securities set a $4.00 price objective on shares of Eldorado Gold and gave the company a “buy” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of Eldorado Gold from a “sell” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada downgraded shares of Eldorado Gold from an “outperform” rating to a “hold” rating and cut their price objective for the company from $3.00 to $1.75 in a report on Tuesday, October 24th. Scotiabank set a $2.00 price objective on shares of Eldorado Gold and gave the company a “sector perform” rating in a report on Friday, November 17th. Finally, JPMorgan Chase & Co. downgraded shares of Eldorado Gold from an “overweight” rating to a “neutral” rating in a report on Monday, November 13th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $1.98.

The company has a current ratio of 7.80, a quick ratio of 6.16 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1,060.00, a P/E ratio of -133.00, a price-to-earnings-growth ratio of 5.59 and a beta of 1.12.

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

Several institutional investors have recently bought and sold shares of EGO. Balyasny Asset Management LLC grew its stake in shares of Eldorado Gold 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 period. Virtu Financial LLC grew its stake in shares of Eldorado Gold by 608.4% in the 3rd quarter. Virtu Financial LLC now owns 242,068 shares of the basic materials company’s stock valued at $147,000 after buying an additional 207,899 shares during the period. Advisor Group Inc. grew its stake in shares of Eldorado Gold by 2.9% in the 2nd quarter. Advisor Group Inc. now owns 67,710 shares of the basic materials company’s stock valued at $175,000 after buying an additional 1,882 shares during the period. Fore Research & Management LP purchased a new stake in shares of Eldorado Gold in the 2nd quarter valued at approximately $237,000. Finally, ARP Americas LLC grew its stake in shares of Eldorado Gold by 59.0% in the 3rd quarter. ARP Americas LLC now owns 144,500 shares of the basic materials company’s stock valued at $318,000 after buying an additional 53,600 shares during the period. 52.90% of the stock is owned by institutional investors and hedge funds.

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Eldorado Gold Company Profile

Eldorado Gold Corp is a Canada-based 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, the Tocantinzinho project and exploration activities in Brazil.

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