Analyst Update: Eldorado Gold, Barrick Gold, Energy Focus

Analysts adjusted their ratings on Eldorado Gold Corp (USA) (EGO), Barrick Gold Corporation (USA)(ABX), and Energy Focus Inc (EFOI)

Aug 19, 2015 at 12:33 PM
facebook X logo linkedin

Analysts are weighing in today on mine operators Eldorado Gold Corp (USA) (NYSE:EGO) and Barrick Gold Corporation (USA) (NYSE:ABX), as well as LED lighting company Energy Focus Inc (NASDAQ:EFOI). Here's a quick roundup of today's brokerage notes on EGO, ABX, and EFOI.

  • This morning, EGO received notice that Greece halted its mining operations in the northern part of the country. Greek Energy Minister Panos Skourletis noted that Eldorado Gold Corp (USA) had violated "some terms" causing Greece to "[recall] approval of the technical studies, which will result in the halting of operations at Skouries and part of operations in Olympiada." Following this news, BMO downgraded EGO to "market perform" from "outperform" and cut its target price to $5 from $7. Shares of the mining concern have shed 9.4% at last check to trade at $3.80. Through yesterday's close, the stock had tacked on nearly 39% since hitting a low of $3.02 on July 24 -- and was in position to attempt a breakout above overhead resistance from its 80-day moving average. Today's news and resulting price drop has left EGO well below this trendline, located at $4.20, once again.
  • ABX is doing better than mining cohort EGO this afternoon, as it is 2.7% higher at $7.87 after Macquarie raised its rating to "neutral" from "underperform." ABX is also gaining some momentum from a rise in gold futures, as the Federal Open Market Committee (FOMC) prepares to release its latest meeting minutes this afternoon.Technically, ABX continues to look up at resistance from its 10-month moving average. This trendline has provided resistance since September 2014 -- forcing the stock from $18.13 to today's high of $8.04; a roughly 56% drop. Given this bleak technical picture, it's not surprising that 11 of the 16 analysts following Barrick Gold Corporation (USA) rate it a "hold" or worse.  

  • EFOI has advanced 8.5% to trade at $16.61 today, after Roth elevated its price target to $23 from $16 and maintained a "buy" rating. The brokerage noted that EFOI "remains one of the few companies in the lighting group that could continue seeing positive revisions to estimates." In addition, there was unconfirmed chatter yesterday that Energy Focus Inc was being targeted by Acuity Brands (NYSE:AYI) for a potential takeover. Shares of the LED lighting company touched a multi-year high of $19.20 just this past Friday, and currently boast a rather impressive 238% year-to-date gain.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Google Inc, Marvell Technology Group Ltd., and Analog Devices, Inc. and Analyst Downgrades: Canadian Solar Inc., Yahoo! Inc., and Group Inc.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI