Bank of America Corp. upgraded shares of Eldorado Gold Corp. (NYSE:EGO) from an underperform rating to a buy rating in a report released on Wednesday. They currently have $5.00 price objective on the stock.

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

Other analysts have also recently issued research reports about the stock. Credit Suisse Group AG restated a buy rating and issued a $6.00 price objective on shares of Eldorado Gold Corp. in a research report on Sunday, June 5th. HSBC restated a buy rating on shares of Eldorado Gold Corp. in a research report on Thursday, July 7th. Zacks Investment Research upgraded shares of Eldorado Gold Corp. from a hold rating to a buy rating and set a $3.50 price objective for the company in a research report on Wednesday, August 31st. Goldman Sachs Group Inc. upgraded shares of Eldorado Gold Corp. from a neutral rating to a buy rating and upped their price objective for the company from $4.40 to $5.00 in a research report on Wednesday, August 10th. Finally, TD Securities reiterated a buy rating and set a $6.00 target price on shares of Eldorado Gold Corp. in a report on Friday, September 9th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $5.23.

Eldorado Gold Corp. (NYSE:EGO) opened at 3.96 on Wednesday. The firm’s market cap is $2.83 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 price is $3.87 and its 200 day moving average price is $4.03.

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

A number of large investors have recently modified their holdings of EGO. FMR LLC increased its stake in shares of Eldorado Gold Corp. by 36.6% in the second quarter. FMR LLC now owns 47,085,635 shares of the company’s stock valued at $211,748,000 after buying an additional 12,615,600 shares during the period. Vanguard Group Inc. increased its stake in shares of Eldorado Gold Corp. by 11.5% in the second quarter. Vanguard Group Inc. now owns 14,256,327 shares of the company’s stock valued at $64,153,000 after buying an additional 1,464,808 shares during the period. Hexavest Inc. increased its stake in shares of Eldorado Gold Corp. by 23.3% in the second quarter. Hexavest Inc. now owns 13,025,189 shares of the company’s stock valued at $58,272,000 after buying an additional 2,459,039 shares during the period. Franklin Resources Inc. increased its stake in shares of Eldorado Gold Corp. by 2.5% in the second quarter. Franklin Resources Inc. now owns 11,582,950 shares of the company’s stock valued at $52,083,000 after buying an additional 280,000 shares during the period. Finally, CIBC World Markets Inc. increased its stake in shares of Eldorado Gold Corp. by 4.3% in the second quarter. CIBC World Markets Inc. now owns 9,613,623 shares of the company’s stock valued at $43,261,000 after buying an additional 392,801 shares during the period. Institutional investors and hedge funds own 55.38% of the company’s stock.

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.

5 Day Chart for NYSE:EGO

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