Weiss Ratings Reaffirms Buy (B) Rating for Eldorado Gold (NYSE:EGO)

Key Points

• Weiss Ratings has reaffirmed a "Buy" rating for Eldorado Gold (NYSE:EGO), indicating confidence in the company's stock performance.
• Eldorado Gold reported a missing earnings estimate with EPS of $0.44, below the consensus estimate of $0.51, despite generating revenue of $459.53 million compared to an expected $401.85 million.
• The stock is currently experiencing a slight drop, with shares trading at $29.02 following a trading volume of over 2.7 million shares.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD's stock had its "buy (b)" rating reissued by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the stock. Scotiabank reiterated a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Wall Street Zen upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Finally, CIBC restated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Stock Down 0.2%

Shares of EGO stock traded down $0.07 on Wednesday, hitting $29.02. The company's stock had a trading volume of 2,707,532 shares, compared to its average volume of 2,487,867. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. Eldorado Gold has a fifty-two week low of $13.29 and a fifty-two week high of $30.00. The firm's fifty day moving average price is $25.56 and its 200-day moving average price is $21.57. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 0.44 and a beta of 0.44.

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

Institutional Trading of Eldorado Gold

Several institutional investors have recently made changes to their positions in EGO. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $32,000. Headlands Technologies LLC acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $32,000. Continuum Advisory LLC boosted its position in shares of Eldorado Gold by 335.3% during the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 1,945 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in shares of Eldorado Gold by 35.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 587 shares in the last quarter. Finally, State of Wyoming acquired a new position in Eldorado Gold in the second quarter valued at about $58,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.

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