NEW YORK (TheStreet) -- Shares of Eldorado Gold Corp (EGO) are climbing, up 4.45% to $7.04 in midday trading on Wednesday, as gold mining stocks are getting a boost on higher gold prices amid rallying crude oikl prices, Bloomberg reports.
"The move up in crude prices is giving gold the boost. We are seeing some good solid buying today," Phil Streible of R.J. O'Brien & Associates told Bloomberg in a telephone interview.
Gold futures for February delivery rose 0.93% to $1,210.60 an ounce as of 1:17 p.m. on the Comex in New York today.
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Canada-based Eldorado Gold is an exploration, discovery, development, production, and reclamation-stage mining company, with its primary focus on gold, iron ore and silver-lead-zinc mines.
Separately, TheStreet Ratings team rates ELDORADO GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELDORADO GOLD CORP (EGO) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow."