Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) was downgraded by stock analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, The Fly reports.

EGO has been the subject of several other research reports. Royal Bank Of Canada lowered their price target on Eldorado Gold Corporation from $3.50 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, August 29th. ValuEngine downgraded Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Macquarie downgraded Eldorado Gold Corporation from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 12th. Zacks Investment Research downgraded Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, TD Securities reissued a “buy” rating on shares of Eldorado Gold Corporation in a report on Thursday, June 29th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $3.90.

Shares of Eldorado Gold Corporation (NYSE EGO) traded down 25.115% during trading on Monday, reaching $1.625. 23,294,150 shares of the company were exchanged. The firm’s 50 day moving average is $2.21 and its 200 day moving average is $2.66. Eldorado Gold Corporation has a 1-year low of $1.60 and a 1-year high of $3.91. The firm’s market capitalization is $1.16 billion.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. The company had revenue of $82.70 million for the quarter, compared to analyst estimates of $104.71 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The firm’s quarterly revenue was down 22.8% compared to the same quarter last year. On average, equities analysts anticipate that Eldorado Gold Corporation will post $0.04 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in EGO. Wells Fargo & Company MN lifted its holdings in shares of Eldorado Gold Corporation by 100.3% during the first quarter. Wells Fargo & Company MN now owns 440,728 shares of the basic materials company’s stock worth $1,503,000 after purchasing an additional 220,647 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Eldorado Gold Corporation during the first quarter worth about $116,000. OppenheimerFunds Inc. lifted its holdings in shares of Eldorado Gold Corporation by 29.8% during the first quarter. OppenheimerFunds Inc. now owns 345,178 shares of the basic materials company’s stock worth $1,177,000 after purchasing an additional 79,318 shares during the period. Legal & General Group Plc lifted its holdings in shares of Eldorado Gold Corporation by 2.5% during the first quarter. Legal & General Group Plc now owns 1,209,695 shares of the basic materials company’s stock worth $4,131,000 after purchasing an additional 29,313 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Eldorado Gold Corporation by 4.1% during the first quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock worth $53,984,000 after purchasing an additional 617,087 shares during the period. 55.07% of the stock is owned by hedge funds and other 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.

The Fly

Analyst Recommendations for Eldorado Gold Corporation (NYSE:EGO)

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