Eldorado Gold (NYSE:EGO) Upgraded 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 analysts have also recently weighed in on EGO. TD Securities dropped their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Scotiabank dropped their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $13.92 on Friday. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $15.41 and a 200 day simple moving average of $16.42. Eldorado Gold has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. The company has a market cap of $2.85 billion, a PE ratio of 10.38 and a beta of 0.93.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its position in Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock worth $3,737,000 after acquiring an additional 804 shares during the period. Blue Trust Inc. lifted its holdings in Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the period. Financial Management Professionals Inc. acquired a new stake in Eldorado Gold in the third quarter worth about $32,000. Banque Cantonale Vaudoise bought a new position in Eldorado Gold in the 3rd quarter valued at about $36,000. Finally, Atria Wealth Solutions Inc. increased its stake in Eldorado Gold by 16.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 20,000 shares of the basic materials company’s stock valued at $297,000 after buying an additional 2,775 shares during the period. 69.58% of the stock is owned by institutional investors.

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.