Eldorado Gold (NYSE:EGO) Raised to “Buy” at StockNews.com

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

EGO has been the subject of a number of other research reports. Stifel Nicolaus reaffirmed a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. TD Securities reduced their price target on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Stifel Canada cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. National Bank Financial reissued an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. Finally, CIBC boosted their price objective on shares of Eldorado Gold from $16.50 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.30.

Eldorado Gold Trading Up 2.8 %

EGO traded up $0.42 during trading on Friday, reaching $15.20. 2,138,122 shares of the company’s stock were exchanged, compared to its average volume of 1,694,345. The company’s fifty day moving average price is $13.30 and its 200-day moving average price is $12.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.53 and a current ratio of 3.39. Eldorado Gold has a fifty-two week low of $8.30 and a fifty-two week high of $16.07. The firm has a market capitalization of $3.10 billion, a PE ratio of 28.67, a P/E/G ratio of 6.40 and a beta of 1.10.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Eldorado Gold had a net margin of 10.54% and a return on equity of 3.56%. The firm had revenue of $306.90 million during the quarter. As a group, equities analysts forecast that Eldorado Gold will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Eldorado Gold by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,774,270 shares of the basic materials company’s stock worth $87,862,000 after purchasing an additional 79,670 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Eldorado Gold during the 4th quarter worth about $37,000. CIBC Asset Management Inc increased its stake in shares of Eldorado Gold by 3.6% during the 4th quarter. CIBC Asset Management Inc now owns 200,114 shares of the basic materials company’s stock worth $2,606,000 after purchasing an additional 6,926 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Eldorado Gold by 0.8% during the 4th quarter. TD Asset Management Inc now owns 533,641 shares of the basic materials company’s stock worth $6,961,000 after purchasing an additional 4,478 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Eldorado Gold in the 4th quarter valued at about $134,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.