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

Key Points

• Weiss Ratings has reaffirmed its "Buy (B)" rating for Eldorado Gold (NYSE:EGO), indicating strong investor confidence in the company's stock.
• Several brokerages have recently issued reports on Eldorado Gold, with notable upgrades, including a shift from "hold" to "strong-buy" by Canaccord Genuity and a price target increase by Scotiabank.
• Eldorado Gold reported earnings of $0.44 per share for the last quarter, missing the consensus estimate, while also generating revenue of $459.53 million, exceeding analyst projections.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD's stock had its "buy (b)" rating reaffirmed by analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on EGO. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Canaccord Genuity Group upgraded shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Scotiabank boosted their price objective on shares of Eldorado Gold from $25.50 to $33.00 and gave the company a "sector perform" rating in a report on Thursday. Bank of America boosted their price objective on shares of Eldorado Gold from $25.00 to $28.00 and gave the company an "underperform" rating in a report on Thursday, October 16th. Finally, CIBC boosted their price objective on shares of Eldorado Gold from $32.00 to $46.00 and gave the company an "outperformer" rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Eldorado Gold presently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

Eldorado Gold Stock Down 0.9%

Shares of NYSE EGO opened at $26.03 on Friday. The stock has a market cap of $5.29 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.32 and a beta of 0.44. The firm has a 50 day moving average price of $26.87 and a 200 day moving average price of $22.49. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23. Eldorado Gold has a 52-week low of $13.29 and a 52-week high of $30.89.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EGO. Allspring Global Investments Holdings LLC boosted its holdings in shares of Eldorado Gold by 11.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock valued at $4,242,000 after buying an additional 25,000 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Eldorado Gold in the first quarter worth $374,000. Bank of New York Mellon Corp lifted its position in shares of Eldorado Gold by 36.7% in the first quarter. Bank of New York Mellon Corp now owns 18,479 shares of the basic materials company's stock worth $311,000 after purchasing an additional 4,966 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Eldorado Gold in the first quarter worth $250,000. Finally, Cerity Partners LLC lifted its position in shares of Eldorado Gold by 63.1% in the first quarter. Cerity Partners LLC now owns 31,281 shares of the basic materials company's stock worth $526,000 after purchasing an additional 12,101 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company's stock.

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.

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