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

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

EGO has been the topic of a number of other research reports. TD Securities dropped their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Scotiabank dropped their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Eldorado Gold Price Performance

Shares of EGO stock opened at $13.78 on Friday. Eldorado Gold has a fifty-two week low of $10.24 and a fifty-two week high of $19.06. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 9.85 and a beta of 0.93. 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 stock’s 50-day simple moving average is $14.87 and its 200-day simple moving average is $16.20.

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 for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. As a group, equities analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EGO. Jennison Associates LLC lifted its holdings in Eldorado Gold by 65.0% in the third quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock valued at $104,777,000 after acquiring an additional 2,376,241 shares during the period. ANTIPODES PARTNERS Ltd lifted its holdings in Eldorado Gold by 648.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company’s stock valued at $39,408,000 after acquiring an additional 2,296,018 shares during the period. Carrhae Capital LLP lifted its holdings in Eldorado Gold by 13.9% in the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock valued at $89,826,000 after acquiring an additional 738,233 shares during the period. Wellington Management Group LLP acquired a new position in Eldorado Gold in the fourth quarter valued at approximately $6,973,000. Finally, BNP Paribas Financial Markets lifted its holdings in Eldorado Gold by 231.7% in the fourth quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company’s stock valued at $8,192,000 after acquiring an additional 384,793 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

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.