Eldorado Gold Co. (NYSE:EGO – Get Rating) (TSE:ELD) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 5,540,000 shares, a decline of 17.4% from the August 15th total of 6,710,000 shares. Based on an average daily volume of 2,110,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 3.0% of the company's stock are sold short.

Eldorado Gold Stock Up 1.8 %

NYSE:EGO traded up $0.10 during trading hours on Friday, reaching $5.73. The company's stock had a trading volume of 2,420,551 shares, compared to its average volume of 1,752,222. The stock has a 50 day moving average price of $5.89 and a two-hundred day moving average price of $8.16. The company has a market capitalization of $1.06 billion, a P/E ratio of -2.40 and a beta of 1.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.47. Eldorado Gold has a 12 month low of $5.21 and a 12 month high of $12.49.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EGO shares. Stifel Nicolaus dropped their price objective on Eldorado Gold from C$20.25 to C$18.00 in a research note on Wednesday, July 20th. National Bank Financial raised their price objective on Eldorado Gold from C$15.00 to C$15.50 in a research note on Tuesday, August 2nd. Canaccord Genuity Group upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, July 20th. TD Securities lowered their price objective on Eldorado Gold from $8.50 to $7.50 and set a "hold" rating for the company in a research report on Wednesday, August 3rd. Finally, Canaccord Genuity Group raised Eldorado Gold from a "hold" rating to a "buy" rating and reduced their price objective for the company from C$17.00 to C$12.00 in a research note on Wednesday, July 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $14.10.

Institutional Inflows and Outflows

Eldorado Gold Company Profile

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Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemcukuru gold mines located in western Turkey; 100% interest in Lamaque gold mines located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.

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