The analyst firm set a price target of $950 on hold through 2015, saying the metal's recent drop below $1,180 marked the continuation of a bearish trend. Credit Suisse said shorting gold is one of its 10 best trade ideas for the next year.
"Gold remains very expensive relative to historical norms, with carrying costs becoming more penal as U.S. interest rates begin to rise," Credit Suisse analysts wrote. The firm said that the strong U.S. dollar would also continue to weigh on gold.
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TheStreet Ratings team rates ELDORADO GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELDORADO GOLD CORP (EGO) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."