Eldorado Gold downgraded to Sector Perform from Outperform at ATB Capital

ATB Capital downgraded Eldorado Gold (EGO) to Sector Perform from Outperform with a price target of C$55, down from C$84, citing the ramp-up risk at both Skouries and McIlvenna Bay this year. With the closing of the Foran Mining acquisition in mid-April, the firm is now incorporating the value for McIlvenna Bay and the shares issued into its net asset value, the analyst noted.