Eldorado Gold Corporation (NYSE:EGO) Lowered to "Sector Perform" at Scotiabank

Greece kicks off arbitration process over Eldorado Gold’s project

Eldorado Gold Corporation (NYSE EGO) opened at 1.99 on Thursday.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, July 27th.

09/22/2015 - Eldorado Gold Corporation was upgraded to " by analysts at Paradigm Capital.

A number of other analysts also recently commented on EGO.

Taking a broader look at the analyst consensus, according to 10 analysts Eldorado Gold Corp (NYSE:EGO)'s price will reach at $4.17 during 52 weeks. Yearly performance of the stock shows a bullish trend of 8.97% while year-to-date (YTD) performance reflected -50.26% negative outlook. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of $0.00 for the quarter, down from their prior forecast of $0.01. Cormark also issued estimates for Eldorado Gold Corporation's Q4 2017 earnings at $0.01 EPS and FY2018 earnings at $0.11 EPS. Aperio Group LLC raised its stake in shares of Eldorado Gold Corporation by 28.6% in the second quarter. World Asset Management Inc now owns 44,473 shares of the basic materials company's stock worth $152,000 after buying an additional 227 shares in the last quarter. LLC increased its position in shares of Eldorado Gold Corporation by 2.2% in the second quarter. In analysts note sent to investors and clients on 31 July, Eldorado Gold Corp (NYSE:EGO) shares have had their Hold Rating kept by equity research analysts at RBC Capital.

Marathon Oil reports 2Q loss
It turned negative, as 58 investors sold ORI shares while 112 reduced holdings. 42 funds opened positions while 114 raised stakes. Finally, Pinnacle Bank purchased a new stake in Marathon Petroleum Corporation during the first quarter valued at about $124,000.

The company is so far trading down from yesterday's close of $1.99. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company.

Why Eldorado Gold Corporation (EGO) is considered oversold? The company had revenue of $82.70 million during the quarter, compared to the consensus estimate of $104.71 million. A total of 9.27 Million shares exchanged hands during the intra-day trade compared with its average trading volume of 9.9 Million shares, while its relative volume stands at 0.94.

While looking at the Stock's Performance, Eldorado Gold Corporation now shows a Weekly Performance of -19.43%, where Monthly Performance is -22.57%, Quarterly performance is -42.82%, 6 Months performance is -43.79% and yearly performance percentage is -51.82%. Over the last five days, shares have faced -19.43% losses and now is down -36.86% since hitting its 200-day moving average of $3.16. Finally, Scotiabank reissued an outperform rating and issued a $5.75 price target on shares of Eldorado Gold Corporation in a report on Friday, April 28th. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and worldwide trademark & copyright laws. World Asset Management Inc raised its position in Eldorado Gold Corporation by 0.5% in the first quarter. The correct version of this article can be accessed at https://transcriptdaily.com/2017/08/03/eldorado-gold-corporation-nyseego-downgraded-by-credit-suisse-group.html. Essex Investment Management Co. Morgan Stanley boosted its stake in Eldorado Gold Corporation by 47.8% in the first quarter. Van ECK Associates Corp now owns 53,091,298 shares of the basic materials company's stock valued at $181,046,000 after buying an additional 7,397,249 shares in the last quarter. Capstone Asset Management Co. now owns 72,551 shares of the basic materials company's stock worth $247,000 after buying an additional 2,530 shares in the last quarter. The Company's geographical divisions include Turkey, Brazil, Greece, Romania and Other.

Want to see what other hedge funds are holding EGO? It holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; 95% interests in Olympias and Skouries, and 100% interests in Perama Hill gold projects in Greece; 81% interests in Certej gold project in Romania; 100% interests in Tocantinzinho gold project in Brazil; 95% interests in Stratoni lead and zinc mines in Greece; and 100% interests in Vila Nova iron ore mine in Brazil.

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