Eldorado Gold (EGO) Stock Climbs as Gold Prices Rise

NEW YORK (TheStreet) -- Shares of Eldorado Gold (EGO) were advancing mid-Tuesday afternoon as gold prices climbed.

Gold for December delivery was up 0.54% to $1,354.80 per ounce on the COMEX.

Gold was gaining today on a weaker dollar and a decline in the U.S. stock market.

A weaker dollar makes gold, which is priced in the greenback, cheaper and therefore more attractive to foreign investors.

The commodity metal rose despite comments from William Dudley, President of the New York Federal Reserve, saying that an interest-rate hike is fast approaching and that rates could increase as soon as September, MarketWatch reports.

Eldorado Gold, based in Vancouver, is a mine operating company.

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


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