National Bank Financial Upgrades Eldorado Gold (NYSE:EGO) to “Strong-Buy”

Eldorado Gold (NYSE:EGO) (TSE:ELD) was upgraded by stock analysts at National Bank Financial to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. TD Cowen dropped their price target on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Tuesday. TD Securities dropped their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Tuesday. Canaccord Genuity Group downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce downgraded shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective on the stock. in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.29.

Eldorado Gold Stock Down 1.8%

Shares of Eldorado Gold stock opened at $34.12 on Wednesday. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.14 and a beta of 0.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46. Eldorado Gold has a 1 year low of $17.18 and a 1 year high of $51.16. The company has a 50-day moving average of $39.27 and a 200 day moving average of $35.27.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $575.14 million for the quarter, compared to the consensus estimate of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. As a group, sell-side analysts anticipate that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EGO. Van ECK Associates Corp lifted its holdings in shares of Eldorado Gold by 33.9% in the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after buying an additional 4,173,963 shares in the last quarter. L1 Capital Pty Ltd lifted its holdings in shares of Eldorado Gold by 35.2% in the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after buying an additional 2,512,168 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Eldorado Gold by 2.6% in the third quarter. Vanguard Group Inc. now owns 8,387,901 shares of the basic materials company’s stock worth $242,226,000 after buying an additional 209,947 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Eldorado Gold by 2.3% in the third quarter. Jennison Associates LLC now owns 8,173,003 shares of the basic materials company’s stock worth $236,118,000 after buying an additional 182,780 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Eldorado Gold by 2.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock worth $199,274,000 after buying an additional 132,170 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.