Eldorado Gold (NYSE:EGO) Upgraded at National Bank Financial

Key Points

• National Bank Financial upgraded Eldorado Gold (EGO) to a "strong-buy", but analyst coverage remains mixed — one Strong Buy, three Buy, six Hold and one Sell — leaving a MarketBeat average rating of Hold and an average target price of $42.29.
• EGO shares opened at $34.76 and were trading down about 4.3%; the company has a $6.9 billion market cap, a P/E of 14.01, and 50‑/200‑day moving averages of $39.32 and $35.28 respectively.
• Latest quarter: EPS of $0.63 missed estimates by $0.01 while revenue of $575.1M beat expectations, net margin was 27.9%, and institutional ownership is high at ~69.6% with notable inflows (e.g., Mackenzie Financial boosted its stake by 904%).

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD was upgraded by investment analysts at National Bank Financial to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

EGO has been the topic of several other research reports. BMO Capital Markets restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday. Canaccord Genuity Group cut shares of Eldorado Gold from a "buy" rating to a "hold" rating in a report on Friday, February 20th. Canadian Imperial Bank of Commerce cut shares of Eldorado Gold from a "sector outperform" rating to a "neutral" rating and set a $54.00 price target on the stock. in a report on Friday, February 20th. TD Cowen decreased their price target on shares of Eldorado Gold from $45.00 to $40.00 and set a "hold" rating on the stock in a report on Tuesday. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Eldorado Gold in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $42.29.

Eldorado Gold Trading Down 4.3%

NYSE:EGO opened at $34.76 on Wednesday. The company has a market cap of $6.90 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.15 and a beta of 0.66. The stock's fifty day moving average price is $39.32 and its two-hundred day moving average price is $35.28. Eldorado Gold has a 1 year low of $17.18 and a 1 year high of $51.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $575.14 million for the quarter, compared to analysts' expectations of $500.42 million. Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%. As a group, analysts expect that Eldorado Gold will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Eldorado Gold in the fourth quarter worth $98,000. Mackenzie Financial Corp grew its position in Eldorado Gold by 904.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company's stock worth $65,322,000 after acquiring an additional 1,631,373 shares in the last quarter. Empowered Funds LLC purchased a new position in Eldorado Gold in the fourth quarter worth $3,499,000. XTX Topco Ltd grew its position in Eldorado Gold by 17.4% in the fourth quarter. XTX Topco Ltd now owns 12,941 shares of the basic materials company's stock worth $465,000 after acquiring an additional 1,919 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in Eldorado Gold by 285.1% in the fourth quarter. Quadrature Capital Ltd now owns 150,200 shares of the basic materials company's stock worth $5,405,000 after acquiring an additional 111,200 shares in the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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