Eldorado Gold (EGO) Stock Jumps as Gold Prices Advance

NEW YORK (TheStreet) -- Shares of Eldorado Gold  (EGO)  were advancing mid-Wednesday morning as gold prices gained.

Gold for December delivery was up 0.56% to $1,354.20 per ounce on the COMEX.

Analysts are projecting a rise in demand for both gold and silver, MarketWatch reports. "Rural demand [in India] for gold and silver will be on the higher side of the expectation curve," said analysts at Insignia Consultants.

As Treasury yields fall today, the dollar has begun to weaken and spurred a rise in prices for the commodity metal.

Gold struggled earlier this week following an upbeat July jobs report from the Labor Department but has since swung to green.

Eldorado Gold is a Vancouver-based global mine operator.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.

The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and weak operating cash flow.

You can view the full analysis from the report here: EGO


More from Markets

Jim Cramer: The Operative Term for This Tape Is Treacherous

Jim Cramer: The Operative Term for This Tape Is Treacherous

Stocks Seesaw As Turmoil in Washington Weighs Against Trade War Progress

Stocks Seesaw As Turmoil in Washington Weighs Against Trade War Progress

What Is Diffusion of Innovation and Why Is It Important in 2019?

What Is Diffusion of Innovation and Why Is It Important in 2019?

Striking Options: Tremendous Volatility, Energy, and Equities

Striking Options: Tremendous Volatility, Energy, and Equities

Google CEO Gets Grilled By Congress on Political Bias, Privacy of User Data

Google CEO Gets Grilled By Congress on Political Bias, Privacy of User Data