Eldorado Gold Corp. (EGO) Upgraded to “Buy” at Bank of America Corp.
Bank of America Corp. upgraded shares of Eldorado Gold Corp. (NYSE:EGO) from an underperform rating to a buy rating in a research note issued to investors on Wednesday morning. Bank of America Corp. currently has $5.00 price objective on the stock.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Eldorado Gold Corp. from a hold rating to a sell rating in a report on Tuesday, September 13th. Credit Suisse Group AG upgraded Eldorado Gold Corp. from a neutral rating to an outperform rating and lifted their price target for the company from $5.00 to $5.50 in a report on Sunday, September 11th. TD Securities reiterated a buy rating and set a $6.00 price target on shares of Eldorado Gold Corp. in a report on Friday, September 9th. Goldman Sachs Group Inc. upgraded Eldorado Gold Corp. from a neutral rating to a buy rating and lifted their price target for the company from $4.40 to $5.00 in a report on Wednesday, August 10th. Finally, HSBC reiterated a buy rating on shares of Eldorado Gold Corp. in a report on Thursday, July 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $5.23.
Shares of Eldorado Gold Corp. (NYSE:EGO) opened at 3.96 on Wednesday. Eldorado Gold Corp. has a 1-year low of $1.87 and a 1-year high of $5.16. The firm’s market cap is $2.83 billion. The stock has a 50 day moving average price of $3.87 and a 200-day moving average price of $4.03.
Eldorado Gold Corp. (NYSE:EGO) last issued its earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.01. The business had revenue of $107 million for the quarter, compared to analysts’ expectations of $190.99 million. Eldorado Gold Corp. had a negative return on equity of 0.36% and a negative net margin of 244.47%. The company’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities research analysts expect that Eldorado Gold Corp. will post $0.07 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Eldorado Gold Corp. during the fourth quarter worth $14,300,000. Franklin Resources Inc. boosted its position in Eldorado Gold Corp. by 11.1% in the first quarter. Franklin Resources Inc. now owns 11,302,950 shares of the company’s stock valued at $35,527,000 after buying an additional 1,130,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Eldorado Gold Corp. by 56.0% in the first quarter. JPMorgan Chase & Co. now owns 2,742,343 shares of the company’s stock valued at $8,665,000 after buying an additional 984,956 shares in the last quarter. Investec Asset Management LTD boosted its position in Eldorado Gold Corp. by 34.7% in the first quarter. Investec Asset Management LTD now owns 2,971,801 shares of the company’s stock valued at $9,391,000 after buying an additional 765,236 shares in the last quarter. Finally, Credit Agricole S A boosted its position in Eldorado Gold Corp. by 55.0% in the first quarter. Credit Agricole S A now owns 3,236,801 shares of the company’s stock valued at $10,227,000 after buying an additional 1,148,327 shares in the last quarter. 55.38% of the stock is owned by institutional investors.
Eldorado Gold Corp. Company Profile
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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