Eldorado - 1 of Top Mid Caps for 2016 Eldorado Gold Corporation
Eldorado Gold Corporation (NYSE: EGO) is one of the world’s largest foreign gold miners. Although having to deal with the pressing issue of geopolitical risk, Eldorado’s management has done well to adapt. The company has operating mines in China, the largest gold-producing country in the world. China produced over 450 million tons of gold in 2014, surpassing the once-dominant Australia and Russia. Eldorado targets countries that are inexperienced with gold mining, taking advantage of lower-cost developing and minimal competition.
As gold prices decrease, Eldorado has become more proactive in its operating efficiencies. The company has taken a more prudent approach to capital expenditures. This allowed it to reduce its risks to its balance sheet and give investors a more reliable forecast for revenue growth. With the growing gold boom in China, expect Eldorado to benefit next year as the stock hits $6.
Read more: The Top 5 Mid-Cap Gold Stocks for 2016 (AEM, ABX, EGO, GG, NEM)