Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) was upgraded by stock analysts at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a report issued on Sunday, Marketbeat reports. The firm currently has a $2.40 target price on the basic materials company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 6.19% from the company’s previous close.

Several other brokerages also recently weighed in on EGO. ValuEngine downgraded shares of Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Royal Bank Of Canada restated a “buy” rating on shares of Eldorado Gold Corporation in a research report on Tuesday, June 6th. CIBC downgraded shares of Eldorado Gold Corporation from a “sector perform” rating to a “sector underperform” rating in a research report on Wednesday, June 28th. TD Securities restated a “buy” rating on shares of Eldorado Gold Corporation in a research report on Thursday, June 29th. Finally, Zacks Investment Research upgraded shares of Eldorado Gold Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $3.91.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.01 earnings per share for the quarter. The business had revenue of $82.70 million during the quarter, compared to the consensus estimate of $104.71 million. Eldorado Gold Corporation had a net margin of 1.00% and a return on equity of 1.41%. The company’s revenue was down 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS.

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Hedge funds have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group purchased a new stake in Eldorado Gold Corporation in the 2nd quarter valued at $104,000. Karp Capital Management Corp purchased a new stake in Eldorado Gold Corporation in the 1st quarter valued at $116,000. Aperio Group LLC raised its position in 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 purchasing an additional 9,745 shares during the last quarter. Balyasny Asset Management LLC raised its position in 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 purchasing an additional 13,889 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its position in 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 purchasing an additional 1,148 shares during the last quarter. Hedge funds and other institutional investors own 55.07% 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.

Analyst Recommendations for Eldorado Gold Corporation (NYSE:EGO)

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