Eldorado Gold (NYSE:EGO) Upgraded to “Strong-Buy” at Canaccord Genuity Group

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday, Zacks reports.

A number of other brokerages have also recently issued reports on EGO. Weiss Ratings cut shares of Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Bank of America upgraded shares of Eldorado Gold from an “underperform” rating to a “buy” rating and boosted their price target for the company from $32.00 to $54.00 in a research report on Tuesday, September 22nd. Jefferies Financial Group initiated coverage on shares of Eldorado Gold in a research note on Thursday, August 20th. They set a “buy” rating and a $50.00 price objective on the stock. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Finally, Royal Bank Of Canada raised their price objective on shares of Eldorado Gold from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.57.

Eldorado Gold Stock Performance

Eldorado Gold stock opened at $31.63 on Friday. The firm has a market capitalization of $8.27 billion, a P/E ratio of 11.22, a P/E/G ratio of 0.30 and a beta of 0.67. The stock has a fifty day moving average price of $40.64 and a two-hundred day moving average price of $35.43. Eldorado Gold has a 52-week low of $24.44 and a 52-week high of $51.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The company had revenue of $487.50 million for the quarter, compared to the consensus estimate of $529.92 million. As a group, analysts anticipate that Eldorado Gold will post 3.02 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

Several large investors have recently made changes to their positions in EGO. RWC Asset Management LLP acquired a new stake in shares of Eldorado Gold in the third quarter valued at $30,549,000. Fifth Third Wealth Advisors LLC acquired a new position in Eldorado Gold during the 3rd quarter worth about $277,000. U S Global Investors Inc. acquired a new position in Eldorado Gold during the 3rd quarter worth about $2,887,000. SBI Securities Co. Ltd. lifted its position in Eldorado Gold by 33.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,544 shares of the basic materials company’s stock worth $175,000 after buying an additional 1,143 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in Eldorado Gold by 1,285.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 131,068 shares of the basic materials company’s stock worth $4,919,000 after buying an additional 121,608 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado’s operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.