Eldorado Gold (NYSE:EGO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a buy rating in a report published on Saturday.

A number of other research analysts have also commented on EGO. Scotiabank reiterated a “sector perform” rating on shares of Eldorado Gold in a research note on Monday, August 11th. CIBC reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Finally, National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.60.

Eldorado Gold Price Performance

NYSE EGO opened at $28.47 on Friday. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $28.66. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. The firm has a market capitalization of $5.79 billion, a PE ratio of 14.31, a P/E/G ratio of 0.44 and a beta of 0.44. The company’s 50 day simple moving average is $23.54 and its 200 day simple moving average is $20.51.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The company had revenue of $459.53 million for the quarter, compared to analyst estimates of $401.85 million. As a group, equities research analysts forecast that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in Eldorado Gold by 7.8% in the 2nd quarter. Osaic Holdings Inc. now owns 29,712 shares of the basic materials company’s stock worth $604,000 after buying an additional 2,153 shares in the last quarter. State of Wyoming purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $58,000. Headlands Technologies LLC purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $32,000. Vident Advisory LLC lifted its position in Eldorado Gold by 13.3% in the 2nd quarter. Vident Advisory LLC now owns 61,804 shares of the basic materials company’s stock worth $1,257,000 after buying an additional 7,251 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $292,000. 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.