Eldorado Gold (NYSE:EGO) Rating Increased 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 note issued to investors on Friday morning.

EGO has been the subject of several other reports. Stifel Nicolaus reaffirmed a hold rating on shares of Eldorado Gold in a research report on Friday, January 26th. National Bank Financial reiterated an outperform spec overweight rating on shares of Eldorado Gold in a research note on Monday, April 8th. Stifel Canada lowered shares of Eldorado Gold from a buy rating to a hold rating in a research note on Friday, January 26th. TD Securities decreased their price target on shares of Eldorado Gold from $14.50 to $13.00 and set a hold rating for the company in a research note on Monday, February 26th. Finally, CIBC increased their price target on shares of Eldorado Gold from $16.50 to $18.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $13.30.

Eldorado Gold Trading Up 2.8 %

NYSE:EGO opened at $15.20 on Friday. The company has a 50-day moving average price of $13.30 and a 200-day moving average price of $12.31. Eldorado Gold has a 12 month low of $8.30 and a 12 month high of $16.07. The company has a current ratio of 3.39, a quick ratio of 2.53 and a debt-to-equity ratio of 0.18. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 6.59 and a beta of 1.10.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted 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 4.52%. The firm had revenue of $306.90 million during the quarter. Equities analysts predict that Eldorado Gold will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EGO. Bank of New York Mellon Corp raised its holdings in Eldorado Gold by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 70,132 shares of the basic materials company’s stock worth $625,000 after buying an additional 1,630 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Eldorado Gold by 350.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 684,570 shares of the basic materials company’s stock worth $6,108,000 after buying an additional 532,453 shares during the last quarter. TD Asset Management Inc raised 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 raised its holdings in shares of Eldorado Gold by 13.0% during the third quarter. CIBC Asset Management Inc now owns 193,188 shares of the basic materials company’s stock valued at $1,729,000 after purchasing an additional 22,292 shares during the last quarter. Finally, Helikon Investments Ltd raised its holdings in shares of Eldorado Gold by 1.7% during the third quarter. Helikon Investments Ltd now owns 29,438,478 shares of the basic materials company’s stock valued at $262,297,000 after purchasing an additional 501,488 shares during the last quarter. 69.58% of the stock is 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.