Eldorado Gold Corp. (NYSE:EGO) shot up 3.3% during mid-day trading on Wednesday . The stock traded as high as $4.23 and last traded at $4.12, with a volume of 7,153,599 shares trading hands. The stock had previously closed at $3.99.

EGO has been the subject of several recent research reports. Dundee Securities reissued a “neutral” rating and issued a $6.00 price objective on shares of Eldorado Gold Corp. in a report on Monday. Zacks Investment Research raised Eldorado Gold Corp. from a “sell” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Thursday, September 15th. Bank of America Corp. raised Eldorado Gold Corp. from an “underperform” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Wednesday, September 14th. Credit Suisse Group AG raised Eldorado Gold Corp. from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $5.00 to $5.50 in a report on Sunday, September 11th. Finally, TD Securities reissued a “buy” rating and issued a $6.00 price objective on shares of Eldorado Gold Corp. in a report on Friday, September 9th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $5.23.

The firm’s market capitalization is $3.02 billion. The stock’s 50 day moving average price is $3.87 and its 200 day moving average price is $4.04.

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Eldorado Gold Corp. (NYSE:EGO) last announced its earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Eldorado Gold Corp. had a negative net margin of 244.47% and a negative return on equity of 0.36%. The company earned $107 million during the quarter, compared to analysts’ expectations of $190.99 million. During the same period last year, the company posted $0.02 earnings per share. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. Analysts forecast that Eldorado Gold Corp. will post $0.07 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in EGO. FMR LLC boosted its position in shares of Eldorado Gold Corp. by 36.6% in the second quarter. FMR LLC now owns 47,085,635 shares of the company’s stock valued at $211,748,000 after buying an additional 12,615,600 shares during the last quarter. Norges Bank purchased a new position in shares of Eldorado Gold Corp. during the fourth quarter valued at approximately $14,300,000. Sun Valley Gold LLC boosted its position in shares of Eldorado Gold Corp. by 8,174.5% in the first quarter. Sun Valley Gold LLC now owns 3,690,753 shares of the company’s stock valued at $11,578,000 after buying an additional 3,646,149 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Eldorado Gold Corp. by 111.7% in the first quarter. Renaissance Technologies LLC now owns 4,941,218 shares of the company’s stock valued at $15,614,000 after buying an additional 2,607,218 shares during the last quarter. Finally, Hexavest Inc. boosted its position in shares of Eldorado Gold Corp. by 23.3% in the second quarter. Hexavest Inc. now owns 13,025,189 shares of the company’s stock valued at $58,272,000 after buying an additional 2,459,039 shares during the last quarter. Institutional investors own 55.36% of the company’s stock.

About Eldorado Gold Corp.

Eldorado Gold Corporation (Eldorado) owns and operates mines around the world, primarily gold mines but also a silver-lead-zinc mine. The Company’s activities involve all facets of the mining industry, including exploration, discovery, acquisition, financing, development, production and reclamation. Its business is focused in Brazil, China, Greece, Turkey and Romania.

5 Day Chart for NYSE:EGO

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