StockNews.com Upgrades Eldorado Gold (NYSE:EGO) to Buy

StockNews.com upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

EGO has been the topic of a number of other reports. National Bank Financial reaffirmed an outperform spec overweight rating on shares of Eldorado Gold in a research report on Monday, April 8th. Scotiabank lifted their price target on shares of Eldorado Gold from $15.00 to $18.00 and gave the company a sector perform rating in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada raised shares of Eldorado Gold from a sector perform rating to an outperform rating and lifted their price target for the company from $14.00 to $20.00 in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Eldorado Gold has a consensus rating of Hold and an average target price of $15.60.

Eldorado Gold Price Performance

EGO opened at $15.47 on Monday. The company’s 50 day simple moving average is $15.24 and its 200 day simple moving average is $13.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.52 and a current ratio of 3.50. Eldorado Gold has a 1 year low of $8.30 and a 1 year high of $16.69. The stock has a market capitalization of $3.17 billion, a PE ratio of 27.14, a P/E/G ratio of 0.27 and a beta of 0.92.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. The business had revenue of $257.97 million for the quarter. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, sell-side analysts expect that Eldorado Gold will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EGO. Jennison Associates LLC bought a new stake in shares of Eldorado Gold in the first quarter worth $36,374,000. Ninety One UK Ltd bought a new stake in shares of Eldorado Gold in the fourth quarter worth $32,473,000. Donald Smith & CO. Inc. increased its stake in shares of Eldorado Gold by 20.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 12,708,184 shares of the basic materials company’s stock worth $164,825,000 after buying an additional 2,136,824 shares during the last quarter. Boston Partners bought a new stake in shares of Eldorado Gold in the fourth quarter worth $27,167,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Eldorado Gold in the fourth quarter worth $24,273,000. 69.58% of the stock is owned by institutional investors and hedge funds.

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.