Nothing quite shines like gold: just ask investors of Eldorado Gold Corp (EGO). Based in Vancouver, B.C., the gold production and exploration firm owns and operates precious metal mines in Turkey and Brazil. Last year, the company posted sales of just over $1 billion, up almost 16% from the previous year. As well, net income landed at $104.6 million, up around 130%.
However, the biggest catalyst is the upward trajectory of gold. Certainly, the fear trade has offered a cynical tailwind for the precious metals complex. Thanks to a variety of factors — particularly macroeconomic concerns, geopolitical anxieties and inflationary pressures — the yellow metal has enjoyed a wealth of positive catalysts. As such, EGO stock has tagged along for the ride.
