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

StockNews.com upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a buy rating in a research report report published on Friday.

A number of other research firms also recently issued reports on EGO. Scotiabank decreased their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. TD Securities decreased their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $13.78 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The firm has a fifty day moving average price of $14.87 and a 200 day moving average price of $16.20. Eldorado Gold has a fifty-two week low of $10.24 and a fifty-two week high of $19.06. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 9.85 and a beta of 0.93.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. The company had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, sell-side analysts expect that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. raised its stake in shares of Eldorado Gold by 2.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company’s stock valued at $179,942,000 after acquiring an additional 309,599 shares during the period. Vanguard Group Inc. raised its stake in shares of Eldorado Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company’s stock valued at $117,228,000 after acquiring an additional 136,594 shares during the period. Jennison Associates LLC raised its stake in shares of Eldorado Gold by 17.5% in the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after acquiring an additional 1,058,137 shares during the period. Carrhae Capital LLP increased its stake in Eldorado Gold by 13.9% in the 4th quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock worth $89,826,000 after buying an additional 738,233 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Eldorado Gold by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company’s stock worth $73,927,000 after buying an additional 74,389 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.