Eldorado Gold (NYSE:EGO) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Eldorado Gold (NYSE:EGO – Get Rating) (TSE:ELD) in a research report sent to investors on Thursday. The firm issued a hold rating on the basic materials company’s stock.

Several other research firms have also weighed in on EGO. Stifel Nicolaus lowered their target price on shares of Eldorado Gold from C$17.00 to C$16.50 in a research note on Wednesday, November 23rd. TD Securities lowered their target price on shares of Eldorado Gold from $11.00 to $10.50 and set a hold rating for the company in a research note on Monday, February 27th. Bank of America started coverage on shares of Eldorado Gold in a research report on Friday, March 10th. They set an underperform rating and a $8.90 price target for the company. Finally, National Bank Financial lowered their price target on shares of Eldorado Gold from C$14.00 to C$13.50 in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Eldorado Gold has an average rating of Hold and a consensus price target of $11.98.

Eldorado Gold Stock Performance

EGO stock opened at $9.90 on Thursday. The company has a current ratio of 3.00, a quick ratio of 2.06 and a debt-to-equity ratio of 0.15. Eldorado Gold has a 1-year low of $5.06 and a 1-year high of $12.49. The firm has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $7.66.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Credit Suisse AG grew its position in Eldorado Gold by 0.9% in the 4th quarter. Credit Suisse AG now owns 152,298 shares of the basic materials company’s stock valued at $1,273,000 after buying an additional 1,368 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Eldorado Gold by 10.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,961 shares of the basic materials company’s stock valued at $125,000 after buying an additional 1,400 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Eldorado Gold by 11.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 15,571 shares of the basic materials company’s stock valued at $185,000 after buying an additional 1,550 shares in the last quarter. Cetera Advisor Networks LLC grew its position in Eldorado Gold by 11.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 18,544 shares of the basic materials company’s stock valued at $208,000 after buying an additional 1,944 shares in the last quarter. Finally, LCM Capital Management Inc grew its position in Eldorado Gold by 14.8% in the 3rd quarter. LCM Capital Management Inc now owns 15,500 shares of the basic materials company’s stock valued at $93,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 57.64% of the company’s stock.

About Eldorado Gold

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Eldorado Gold Corp. engages in the mining, development and exploration of gold. It has mining operations, ongoing development projects and exploration in Turkey, Canada, Greece, Brazil, Romania and Serbia. The company was founded by Richard J. Barclay, Marco Antonio Romero, and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.