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

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

EGO has been the subject of a number of other reports. Scotiabank boosted their price target on Eldorado Gold from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Royal Bank of Canada raised Eldorado Gold from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $14.00 to $20.00 in a report on Wednesday, May 29th. Finally, National Bank Financial reissued an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.60.

Eldorado Gold Trading Up 1.0 %

Eldorado Gold stock opened at $14.82 on Monday. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18. Eldorado Gold has a 52 week low of $8.30 and a 52 week high of $16.69. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 0.27 and a beta of 0.92. The stock has a 50-day moving average price of $15.20 and a 200 day moving average price of $13.65.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Friday, April 26th. The basic materials company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. The firm had revenue of $257.97 million during the quarter. During the same period last year, the firm earned $0.11 EPS. Sell-side analysts anticipate that Eldorado Gold will post 1.09 EPS for the current year.

Institutional Trading of Eldorado Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Eldorado Gold in the first quarter valued at approximately $165,000. Tidal Investments LLC purchased a new stake in shares of Eldorado Gold during the first quarter worth approximately $11,431,000. Invenomic Capital Management LP increased its position in shares of Eldorado Gold by 28.1% during the first quarter. Invenomic Capital Management LP now owns 1,738,044 shares of the basic materials company’s stock worth $24,454,000 after purchasing an additional 380,982 shares in the last quarter. Gabelli Funds LLC increased its position in shares of Eldorado Gold by 2.8% during the first quarter. Gabelli Funds LLC now owns 2,020,000 shares of the basic materials company’s stock worth $28,421,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Eldorado Gold by 18.8% during the first quarter. Gamco Investors INC. ET AL now owns 148,520 shares of the basic materials company’s stock worth $2,090,000 after purchasing an additional 23,500 shares in the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

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.