Eldorado Gold (NYSE:EGO) Upgraded by Zacks Research to Hold Rating

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other analysts have also recently issued reports on EGO. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, August 9th. Jefferies Financial Group initiated coverage on shares of Eldorado Gold in a research note on Thursday, August 20th. They set a “buy” rating and a $50.00 price target on the stock. Weiss Ratings upgraded shares of Eldorado Gold from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th. Stifel Nicolaus raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Finally, Bank of America upped their price objective on shares of Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Eldorado Gold Stock Down 2.4%

Shares of Eldorado Gold stock opened at $40.17 on Monday. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 0.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. Eldorado Gold has a 52-week low of $24.44 and a 52-week high of $51.16. The stock has a 50-day simple moving average of $37.59 and a 200-day simple moving average of $35.29.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%.The firm had revenue of $487.50 million for the quarter, compared to the consensus estimate of $529.92 million. On average, equities research analysts expect that Eldorado Gold will post 3.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGO. Engineers Gate Manager LP grew its stake in shares of Eldorado Gold by 34.9% in the second quarter. Engineers Gate Manager LP now owns 8,983 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 2,324 shares during the last quarter. NewEdge Advisors LLC increased its position in Eldorado Gold by 8.4% during the second quarter. NewEdge Advisors LLC now owns 63,641 shares of the basic materials company’s stock worth $1,979,000 after acquiring an additional 4,958 shares during the period. Nykredit A S acquired a new position in Eldorado Gold during the 2nd quarter valued at $143,000. HighTower Advisors LLC acquired a new position in Eldorado Gold during the 2nd quarter valued at $239,000. Finally, TD Waterhouse Canada Inc. raised its stake in Eldorado Gold by 222.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,460 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 6,530 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation is a Vancouver-based mid-tier gold producer focused on the exploration, development and operation of precious-metals mining assets. The company primarily produces gold, with some operations also generating silver, lead and zinc concentrates.

Eldorado Gold operates the Lamaque gold mine in Quebec, Canada; the Kisladag and Efemcukuru gold mines in Türkiye; and the Olympias polymetallic mine in northern Greece. The company is also advancing the Skouries project in Greece, a copper-gold development that is expected to expand its production profile.

Founded in 1996, Eldorado has built an international portfolio through acquisitions, exploration and mine development.