Zacks Investment Research upgraded shares of Eldorado Gold Corp. (NYSE:EGO) from a sell rating to a buy rating in a research report sent to investors on Thursday morning. The brokerage currently has $4.25 target price on the stock.

According to Zacks, “Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey. “

Analyst Recommendations for Eldorado Gold Corp. (NYSE:EGO)

Several other research analysts have also recently weighed in on EGO. Howard Weil raised Eldorado Gold Corp. from a sector perform rating to an outperform rating in a research note on Wednesday, May 18th. Scotiabank upgraded Eldorado Gold Corp. from a sector perform rating to an outperform rating in a research report on Wednesday, May 18th. Credit Suisse Group AG reiterated a buy rating and issued a $6.00 price target on shares of Eldorado Gold Corp. in a research report on Sunday, June 5th. Raymond James Financial Inc. upgraded Eldorado Gold Corp. from a market perform rating to an outperform rating in a research report on Monday, June 27th. Finally, HSBC reiterated a buy rating on shares of Eldorado Gold Corp. in a research report on Thursday, July 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $5.23.

Shares of Eldorado Gold Corp. (NYSE:EGO) opened at 3.99 on Thursday. The firm’s market cap is $2.85 billion. Eldorado Gold Corp. has a 52-week low of $1.87 and a 52-week high of $5.16. The company’s 50-day moving average is $3.86 and its 200-day moving average is $4.04.

Eldorado Gold Corp. (NYSE:EGO) last announced its earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. Eldorado Gold Corp. had a negative return on equity of 0.36% and a negative net margin of 244.47%. The business earned $107 million during the quarter, compared to analysts’ expectations of $190.99 million. During the same quarter last year, the business posted $0.02 earnings per share. The company’s quarterly revenue was down 14.0% on a year-over-year basis. Equities research analysts forecast that Eldorado Gold Corp. will post $0.07 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in EGO. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Eldorado Gold Corp. by 0.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 196,060 shares of the company’s stock valued at $877,000 after buying an additional 1,224 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Eldorado Gold Corp. by 0.9% in the second quarter. BNP Paribas Arbitrage SA now owns 141,155 shares of the company’s stock worth $635,000 after buying an additional 1,292 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Eldorado Gold Corp. by 1.0% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 208,875 shares of the company’s stock worth $940,000 after buying an additional 2,000 shares during the last quarter. World Asset Management Inc boosted its stake in shares of Eldorado Gold Corp. by 7.5% in the second quarter. World Asset Management Inc now owns 44,594 shares of the company’s stock worth $201,000 after buying an additional 3,110 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Eldorado Gold Corp. by 3.5% in the second quarter. Creative Planning now owns 104,802 shares of the company’s stock worth $472,000 after buying an additional 3,504 shares during the last quarter. 55.38% of the stock is owned by institutional investors and hedge funds.

About Eldorado Gold Corp.

Eldorado Gold Corporation (Eldorado) owns and operates mines around the world, primarily gold mines but also a silver-lead-zinc mine. The Company’s activities involve all facets of the mining industry, including exploration, discovery, acquisition, financing, development, production and reclamation. Its business is focused in Brazil, China, Greece, Turkey and Romania.

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