TD Securities Downgrades Eldorado Gold Corp to Hold

By Carrie Williams

TD Securities analyst Greg Barnes downgraded Eldorado Gold Corp (NYSE: EGO) to Hold yesterday and set a price target of $2. The company’s shares opened today at $1.48, equals to its 52-week low of $1.48.

According to TipRanks.com, Barnes is a 3-star analyst with an average return of 1.8% and a 53.4% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Teck Resources Limited.

Currently, the analyst consensus on Eldorado Gold Corp is Hold and the average price target is $2, representing a 35.1% upside.

In a report released today, RBC Capital also downgraded the stock to Hold.

The company has a one-year high of $3.91 and a one-year low of $1.48. Currently, Eldorado Gold Corp has an average volume of 6.76M.

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Eldorado Gold Corp. engages in the business of development and exploration of mineral properties. It owns and operates gold, silver, lead, and zinc mines. The company was founded by Richard J. Barclay, Marco A. Romero and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.