Eldorado Gold (NYSE:EGO) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a buy rating in a report issued on Thursday morning.

Other analysts have also issued research reports about the stock. Scotiabank lowered their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday, February 7th. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada boosted their target price on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Eldorado Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $17.99 on Thursday. The business’s fifty day moving average is $15.26 and its two-hundred day moving average is $15.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The firm has a market cap of $3.69 billion, a P/E ratio of 12.85 and a beta of 0.81. Eldorado Gold has a 52 week low of $13.29 and a 52 week high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.13. The business had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. Equities research analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. increased its holdings in Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Eldorado Gold during the 4th quarter worth about $55,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Eldorado Gold in the 4th quarter valued at about $113,000. Tradition Wealth Management LLC acquired a new stake in shares of Eldorado Gold in the 4th quarter valued at approximately $153,000. Finally, Envestnet Asset Management Inc. bought a new position in Eldorado Gold during the 4th quarter worth approximately $183,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.