Eldorado Gold (NYSE:EGO) Shares Gap Up to $8.66

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $8.92, but opened at $8.66. Eldorado Gold shares last traded at $8.68, with a volume of 527,787 shares changing hands.

EGO has been the topic of several research analyst reports. TD Securities cut their price objective on Eldorado Gold from $4.50 to $4.25 and set a “hold” rating on the stock in a research report on Tuesday, May 7th. Credit Suisse Group initiated coverage on Eldorado Gold in a research report on Tuesday, April 16th. They issued a “neutral” rating and a $6.00 price objective on the stock. ValuEngine raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised Eldorado Gold from an “underweight” rating to a “neutral” rating and set a $6.00 price objective on the stock in a research report on Wednesday, June 26th. Finally, CIBC raised Eldorado Gold from an “underperform” rating to a “neutral” rating in a research report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Eldorado Gold has a consensus rating of “Hold” and a consensus target price of $5.76.

The stock’s 50-day simple moving average is $6.80. The firm has a market capitalization of $1.38 billion, a P/E ratio of -50.41, a P/E/G ratio of 11.26 and a beta of 2.03. The company has a current ratio of 3.98, a quick ratio of 2.70 and a debt-to-equity ratio of 0.18.

Hedge funds have recently modified their holdings of the business. Two Sigma Investments LP bought a new stake in shares of Eldorado Gold in the 4th quarter worth $106,000. Two Sigma Advisers LP purchased a new position in shares of Eldorado Gold in the 4th quarter worth about $156,000. Norges Bank purchased a new position in shares of Eldorado Gold in the 4th quarter worth about $4,037,000. Deutsche Bank AG boosted its holdings in shares of Eldorado Gold by 118.0% in the 4th quarter. Deutsche Bank AG now owns 767,011 shares of the basic materials company’s stock worth $2,208,000 after buying an additional 415,098 shares during the last quarter. Finally, Exane Derivatives purchased a new position in shares of Eldorado Gold in the 1st quarter worth about $426,000. Institutional investors and hedge funds own 41.62% of the company’s stock.

Eldorado Gold Company Profile (NYSE:EGO)

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and 100% interest in Tocantinzinho gold project in Brazil.

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