Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) were up 5.4% during mid-day trading on Monday . The company traded as high as $1.37 and last traded at $1.36. Approximately 8,894,661 shares changed hands during trading, an increase of 22% from the average daily volume of 7,305,820 shares. The stock had previously closed at $1.29.

A number of analysts recently issued reports on EGO shares. ValuEngine upgraded shares of Eldorado Gold Corporation from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Canaccord Genuity downgraded shares of Eldorado Gold Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Credit Suisse Group set a $2.00 price objective on shares of Eldorado Gold Corporation and gave the stock a “hold” rating in a report on Saturday, July 29th. Scotiabank downgraded shares of Eldorado Gold Corporation from an “outperform” rating to a “sector perform” rating and set a $4.00 price objective for the company. in a report on Monday, July 31st. Finally, BidaskClub upgraded shares of Eldorado Gold Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Eldorado Gold Corporation currently has a consensus rating of “Hold” and an average target price of $2.93.

The company’s 50-day moving average price is $2.07 and its 200-day moving average price is $2.55. The stock’s market capitalization is $904.63 million.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $95.35 million during the quarter, compared to analysts’ expectations of $100.63 million. Eldorado Gold Corporation had a positive return on equity of 0.52% and a negative net margin of 5.02%. The company’s revenue was down 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. Equities research analysts predict that Eldorado Gold Corporation will post $0.03 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management LLC increased its holdings 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 worth $120,000 after acquiring an additional 13,889 shares in the last quarter. Intact Investment Management Inc. boosted its stake in Eldorado Gold Corporation by 83.9% in the 2nd quarter. Intact Investment Management Inc. now owns 5,351,900 shares of the basic materials company’s stock worth $18,196,000 after purchasing an additional 2,441,800 shares during the period. Shell Asset Management Co. boosted its stake in Eldorado Gold Corporation by 2,884.9% in the 3rd quarter. Shell Asset Management Co. now owns 780,973 shares of the basic materials company’s stock worth $5,896,000 after purchasing an additional 754,809 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Eldorado Gold Corporation by 15.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,848,322 shares of the basic materials company’s stock worth $4,880,000 after purchasing an additional 253,684 shares during the period. Finally, Creative Planning boosted its stake in Eldorado Gold Corporation by 411.2% in the 2nd quarter. Creative Planning now owns 373,893 shares of the basic materials company’s stock worth $987,000 after purchasing an additional 300,752 shares during the period. 55.47% of the stock is owned by institutional investors.

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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.

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