Eldorado Gold (NYSE:EGO) Shares Gap Down – What’s Next?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $16.56, but opened at $16.10. Eldorado Gold shares last traded at $15.97, with a volume of 72,093 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EGO. TD Securities lowered their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Scotiabank lifted their target price on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada raised their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.88.

Eldorado Gold Trading Down 4.8 %

The firm has a 50-day simple moving average of $17.15 and a 200-day simple moving average of $16.49. The stock has a market cap of $3.23 billion, a PE ratio of 12.36 and a beta of 0.95. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The company had revenue of $331.76 million during the quarter. During the same quarter last year, the business posted $0.17 earnings per share. Equities analysts forecast that Eldorado Gold Co. will post 1.41 earnings per share for the current year.

Institutional Trading of Eldorado Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. purchased a new stake in shares of Eldorado Gold in the 3rd quarter valued at $32,000. Blue Trust Inc. increased its stake in Eldorado Gold by 232.8% in the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Eldorado Gold in the third quarter worth approximately $36,000. Tobam raised its holdings in Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock valued at $74,000 after buying an additional 651 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Eldorado Gold during the 2nd quarter valued at $74,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.