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

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

EGO has been the topic of several other research reports. TD Securities dropped 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. Scotiabank decreased their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Eldorado Gold Stock Performance

Shares of NYSE:EGO traded down $0.10 during trading hours on Friday, hitting $13.92. The stock had a trading volume of 2,278,773 shares, compared to its average volume of 1,768,551. The stock’s fifty day simple moving average is $15.41 and its 200 day simple moving average is $16.42. Eldorado Gold has a 1-year low of $9.72 and a 1-year high of $19.06. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EGO. Financial Management Professionals Inc. bought a new stake in Eldorado Gold during the third quarter worth approximately $32,000. Blue Trust Inc. boosted its holdings in Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,336 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Eldorado Gold during the third quarter worth approximately $36,000. SBI Securities Co. Ltd. bought a new stake in Eldorado Gold during the fourth quarter worth approximately $55,000. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in Eldorado Gold during the fourth quarter worth approximately $113,000. 69.58% of the stock is currently owned by institutional investors.

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.