Eldorado Gold (NYSE:EGO) Rating Increased to Buy at StockNews.com

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

Several other research firms have also recently issued reports on EGO. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Scotiabank reduced their target price on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Finally, Royal Bank of Canada boosted their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Two research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Eldorado Gold Trading Up 7.2 %

Shares of NYSE EGO opened at $19.30 on Thursday. Eldorado Gold has a 1-year low of $13.29 and a 1-year high of $19.55. The company has a 50-day moving average of $15.33 and a two-hundred day moving average of $15.90. The company has a market cap of $3.97 billion, a PE ratio of 13.79 and a beta of 0.81. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.13. The firm had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, equities analysts expect that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. raised its position in shares of Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 682 shares during the period. SBI Securities Co. Ltd. bought a new stake in Eldorado Gold in the fourth quarter valued at approximately $55,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Eldorado Gold in the fourth quarter worth $113,000. Tradition Wealth Management LLC bought a new position in shares of Eldorado Gold during the fourth quarter worth $153,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Eldorado Gold in the 4th quarter valued at $183,000. Institutional investors 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.