Eldorado Gold (NYSE:EGO) Stock Rating Upgraded by StockNews.com

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

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

Eldorado Gold Trading Down 0.7 %

Eldorado Gold stock traded down $0.10 during midday trading on Friday, reaching $13.92. The stock had a trading volume of 2,278,773 shares, compared to its average volume of 1,768,551. The firm’s fifty day simple moving average is $15.41 and its two-hundred day simple moving average is $16.42. Eldorado Gold has a twelve month low of $9.72 and a twelve month high of $19.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 10.38 and a beta of 0.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EGO. Millennium Management LLC raised its holdings 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 purchasing an additional 332,913 shares in the last quarter. Cetera Investment Advisers lifted its position in Eldorado Gold by 61.0% during the 2nd quarter. Cetera Investment Advisers now owns 73,864 shares of the basic materials company’s stock worth $1,092,000 after acquiring an additional 27,991 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Eldorado Gold during the 2nd quarter worth $488,000. Net Worth Advisory Group acquired a new position in Eldorado Gold during the 3rd quarter worth $198,000. Finally, Equinox Partners Investment Management LLC lifted its position in Eldorado Gold by 32.0% during 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 acquiring an additional 239,800 shares during the last quarter. 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.