Eldorado Gold Corp PT Lowered to $4.00 at Scotiabank (EGO)

 Source: ABMN   |   Publish date: Mon, 24 Aug 2015, 05:54 PM   |    >> Read article in News website

Investment analysts at Scotiabank lowered their price target on shares of Eldorado Gold Corp (NYSE:EGO) from $7.00 to $4.00 in a research note issued to investors on Monday, StockTargetPrices.com reports. Scotiabank’s price target would indicate a potential upside of 27.80% from the company’s current price.

Eldorado Gold Corp (NYSE:EGO) traded down 7.67% on Monday, reaching $3.13. 6,724,590 shares of the company traded hands. The stock’s market capitalization is $2.24 billion. The stock’s 50-day moving average is $3.59 and its 200-day moving average is $4.51. Eldorado Gold Corp has a 1-year low of $3.02 and a 1-year high of $8.33.

Eldorado Gold Corp (NYSE:EGO) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Equities research analysts expect that Eldorado Gold Corp will post $0.07 EPS for the current year.

Several other research firms have also commented on EGO. BMO Capital Markets dropped their target price on shares of Eldorado Gold Corp from $7.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 19th. Canaccord Genuity cut shares of Eldorado Gold Corp from a “buy” rating to a “hold” rating and decreased their price objective for the company from $6.00 to $4.50 in a report on Monday. Credit Suisse cut shares of Eldorado Gold Corp from an “outperform” rating to a “neutral” rating in a report on Thursday. RBC Capital dropped their price target on shares of Eldorado Gold Corp from $5.50 to $5.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Raymond James lowered shares of Eldorado Gold Corp from an “outperform” rating to a “market perform” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $4.91.

Eldorado Gold Corporation owns and operates mines all over the world. The Company’s actions involve various facets of the mining sector, including exploration, development, production and reclamation. Its operating gold mines comprise Kisladag in Turkey (NYSE:EGO), Efemcukuru in Turkey (100%), Tanjianshan in China (90%), White Mountain in China (95%) and Jinfeng in China (82%). Its gold endeavors comprise Perama Hill in Greece (100%), Olympias in Greece (95%), Skouries in Greece (95%), Certej in Romania (81%), Eastern Dragon in China (75%) and Tocantinzinho in Brazil (100%). Its other operating mines comprise Stratoni Lead and Zinc Concentrates in Greece (95%) and Vila Nova Iron Ore in Brazil (100%). The Organization has finished an exploration program in Romania at the Bocsa, Magura, Muncel, Brad and Deva jobs, which are situated in the Apuseni district nearby the Certej deposit.

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