Eldorado Gold (NYSE:EGO) Upgraded to “Buy” 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 morning.

A number of other equities research analysts have also recently commented on EGO. Scotiabank lowered their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday. TD Securities lowered their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Eldorado Gold Stock Performance

Shares of EGO opened at $13.92 on Friday. The stock has a 50 day moving average of $15.41 and a 200 day moving average of $16.42. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.38 and a beta of 0.93. Eldorado Gold has a 12 month low of $9.72 and a 12 month high of $19.06. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Eldorado Gold

Several large investors have recently added to or reduced their stakes in EGO. Jennison Associates LLC lifted its holdings in Eldorado Gold by 65.0% during the third quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock valued at $104,777,000 after purchasing an additional 2,376,241 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Eldorado Gold by 230.6% during the 2nd quarter. Millennium Management LLC now owns 188,529 shares of the basic materials company’s stock valued at $2,788,000 after buying an additional 332,913 shares in the last quarter. Equinox Partners Investment Management LLC boosted its holdings in Eldorado Gold by 32.0% in the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after buying an additional 239,800 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Eldorado Gold in the 3rd quarter valued at approximately $2,626,000. Finally, Amundi raised its holdings in Eldorado Gold by 13.6% during the 4th quarter. Amundi now owns 1,095,624 shares of the basic materials company’s stock valued at $17,585,000 after acquiring an additional 130,848 shares during the period. Hedge funds and other institutional investors 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.