Eldorado Gold (NYSE:EGO) Lifted 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 report report published on Friday.

Several other equities analysts also recently commented on EGO. Stifel Canada downgraded shares of Eldorado Gold from a buy rating to a hold rating in a research note on Friday, January 26th. CIBC upped their price target on Eldorado Gold from $16.50 to $18.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. National Bank Financial reiterated an outperform spec overweight rating on shares of Eldorado Gold in a report on Monday, April 8th. TD Securities reduced their target price on Eldorado Gold from $14.50 to $13.00 and set a hold rating on the stock in a research note on Monday, February 26th. Finally, Stifel Nicolaus restated a hold rating on shares of Eldorado Gold in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $13.30.

Eldorado Gold Price Performance

Shares of Eldorado Gold stock opened at $15.19 on Friday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 6.78 and a beta of 1.10. Eldorado Gold has a one year low of $8.30 and a one year high of $16.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52. The business’s 50 day simple moving average is $13.39 and its two-hundred day simple moving average is $12.39.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. The company had revenue of $306.90 million for the quarter. Analysts forecast that Eldorado Gold will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EGO. Bank of New York Mellon Corp increased its stake in shares of Eldorado Gold by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 70,132 shares of the basic materials company’s stock worth $625,000 after acquiring an additional 1,630 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Eldorado Gold by 350.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 684,570 shares of the basic materials company’s stock valued at $6,108,000 after purchasing an additional 532,453 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Eldorado Gold by 4.8% during the third quarter. TD Asset Management Inc now owns 529,163 shares of the basic materials company’s stock valued at $4,744,000 after purchasing an additional 24,061 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Eldorado Gold by 13.0% in the 3rd quarter. CIBC Asset Management Inc now owns 193,188 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 22,292 shares in the last quarter. Finally, Helikon Investments Ltd boosted its position in shares of Eldorado Gold by 1.7% in the 3rd quarter. Helikon Investments Ltd now owns 29,438,478 shares of the basic materials company’s stock worth $262,297,000 after purchasing an additional 501,488 shares in the last quarter. Hedge funds and other 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.