Eldorado Gold (NYSE:EGO) Shares Gap Down – Should You Sell?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $16.65, but opened at $15.98. Eldorado Gold shares last traded at $15.96, with a volume of 472,051 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank upped their price objective on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, TD Securities reduced their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Trading Down 1.2 %

The business has a fifty day moving average of $17.27 and a 200-day moving average of $16.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The company has a market capitalization of $3.15 billion, a P/E ratio of 11.47 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same quarter in the prior year, the business earned $0.17 earnings per share. Analysts anticipate that Eldorado Gold Co. will post 1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Large investors have recently modified their holdings of the company. Independent Advisor Alliance purchased a new stake in Eldorado Gold in the 3rd quarter valued at $544,000. Navellier & Associates Inc. purchased a new stake in Eldorado Gold in the 3rd quarter valued at $878,000. Jennison Associates LLC raised its position in Eldorado Gold by 65.0% in the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock valued at $104,777,000 after buying an additional 2,376,241 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Eldorado Gold in the 3rd quarter valued at $36,000. Finally, Tacita Capital Inc purchased a new stake in Eldorado Gold in the 3rd quarter valued at $467,000. 69.58% of the stock is currently owned by institutional investors.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.