Eldorado Gold (NYSE:EGO) Upgraded at Wall Street Zen

Key Points

• Eldorado Gold has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting positive sentiment from investors.
• The stock has a market capitalization of $5.67 billion and currently has a consensus rating of "Moderate Buy" with a price target of $23.60.
• In its latest earnings report, Eldorado Gold posted earnings per share of $0.44, falling short of the $0.51 consensus estimate, despite reporting revenue exceeding expectations at $459.53 million.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other analysts also recently weighed in on the stock. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research note on Monday, August 11th. Finally, CIBC restated an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Trading Up 3.3%

Eldorado Gold stock traded up $0.90 during trading on Friday, hitting $27.89. The company had a trading volume of 6,318,530 shares, compared to its average volume of 1,596,421. Eldorado Gold has a 1-year low of $13.29 and a 1-year high of $28.66. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. The company's 50 day simple moving average is $23.38 and its 200-day simple moving average is $20.37. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.44 and a beta of 0.44.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The company had revenue of $459.53 million during the quarter, compared to analyst estimates of $401.85 million. As a group, analysts expect that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. increased its stake in shares of Eldorado Gold by 3.2% during the first quarter. Donald Smith & CO. Inc. now owns 12,492,756 shares of the basic materials company's stock worth $210,128,000 after acquiring an additional 391,776 shares during the period. L1 Capital Pty Ltd increased its stake in shares of Eldorado Gold by 22.7% during the first quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company's stock worth $147,580,000 after acquiring an additional 1,621,173 shares during the period. Vanguard Group Inc. increased its stake in shares of Eldorado Gold by 1.9% during the first quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company's stock worth $134,984,000 after acquiring an additional 148,567 shares during the period. Jennison Associates LLC increased its stake in shares of Eldorado Gold by 10.3% during the second quarter. Jennison Associates LLC now owns 7,990,223 shares of the basic materials company's stock worth $162,521,000 after acquiring an additional 744,419 shares during the period. Finally, Carrhae Capital LLP grew its position in Eldorado Gold by 10.7% during the first quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company's stock worth $112,514,000 after buying an additional 648,574 shares during the period. 69.58% of the stock is currently 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.