StockNews.com Upgrades Eldorado Gold (NYSE:EGO) to "Buy"

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Thursday.

A number of other equities analysts have also recently weighed in on EGO. National Bank Financial raised shares of Eldorado Gold to a "strong-buy" rating in a research report on Friday, March 21st. Scotiabank reduced their price target on Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating for the company in a report on Friday, February 7th. Finally, Royal Bank of Canada lifted their price objective on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $20.38.

Eldorado Gold Stock Up 0.2 %

Shares of NYSE EGO traded up $0.04 on Thursday, hitting $19.44. The company had a trading volume of 200,977 shares, compared to its average volume of 1,549,382. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. Eldorado Gold has a 12-month low of $13.29 and a 12-month high of $19.74. The firm has a market capitalization of $3.99 billion, a P/E ratio of 13.83 and a beta of 0.81. The business has a 50 day moving average of $15.41 and a two-hundred day moving average of $15.89.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its position in shares of Eldorado Gold by 26.5% during 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Eldorado Gold in the 4th quarter worth about $55,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Eldorado Gold in the 4th quarter valued at about $113,000. Tradition Wealth Management LLC bought a new stake in shares of Eldorado Gold during the 4th quarter valued at about $153,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Eldorado Gold during the fourth quarter worth about $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.