Eldorado Gold (NYSE:EGO) Rating Increased to Neutral at JPMorgan Chase & Co.

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Wednesday, June 26th, Marketbeat.com reports. The firm currently has a $6.00 price target on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 23.37% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Credit Suisse Group started coverage on New Gold in a research report on Tuesday, April 16th. They set a “neutral” rating and a $1.00 price target on the stock. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. TD Securities decreased their target price on Great Canadian Gaming from C$62.00 to C$56.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Finally, Zacks Investment Research upgraded IMI PLC/S from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Eldorado Gold has an average rating of “Hold” and a consensus price target of $5.01.

Shares of NYSE EGO traded up $0.23 during mid-day trading on Wednesday, reaching $7.83. 6,820,912 shares of the company were exchanged, compared to its average volume of 2,372,781. The business has a 50-day simple moving average of $5.28. Eldorado Gold has a 1 year low of $2.52 and a 1 year high of $7.88. The firm has a market capitalization of $1.21 billion, a PE ratio of -46.06, a price-to-earnings-growth ratio of 12.74 and a beta of 2.00. The company has a current ratio of 3.98, a quick ratio of 2.70 and a debt-to-equity ratio of 0.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $80.02 million during the quarter, compared to analyst estimates of $113.85 million. Eldorado Gold had a negative net margin of 97.68% and a negative return on equity of 1.40%. Analysts anticipate that Eldorado Gold will post 0.11 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. acquired a new position in Eldorado Gold in the first quarter worth approximately $185,000. Marshall Wace North America L.P. acquired a new position in Eldorado Gold in the first quarter worth approximately $266,000. Marshall Wace LLP acquired a new position in Eldorado Gold in the first quarter worth approximately $1,947,000. Loews Corp grew its position in Eldorado Gold by 60.5% in the first quarter. Loews Corp now owns 158,399 shares of the basic materials company’s stock worth $732,000 after buying an additional 59,698 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in Eldorado Gold in the first quarter worth approximately $1,122,000. 41.47% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Company Profile

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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Analyst Recommendations for Eldorado Gold (NYSE:EGO)

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