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Company News

BUZZ-Eldorado Gold: Falls to 12-yr low after weak revenue

** Canadian gold miner’s shares sink as much as 9 pct to more than 12-year low of C$2.55; U.S.-listed shares down 7 pct at $2.10

** Co posts Q2 revenue well below estimates, hurt by lower gold production and lower realized prices

** Gold production during the quarter nearly halved to 63,692 oz

** Says total production hurt due to lower sales at Kisladag mine and shipping delays at Efemcukuru mine in Turkey

** Analysts at Canaccord Genuity and Credit Suisse slash PTs and downgrade the stock following results

** Half the 12 analysts covering the stock rate it “buy,” 4 “hold” and 2 “sell”; median PT C$5.35

** Up to Friday’s close, ELD had lost half its value

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