Eldorado Gold (NYSE:EGO) Shares Up 5.7% – What’s Next?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) shares traded up 5.7% during trading on Monday . The company traded as high as $16.16 and last traded at $16.06. 240,143 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,534,215 shares. The stock had previously closed at $15.20.

Analysts Set New Price Targets

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

Eldorado Gold Trading Up 5.1 %

The firm has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $16.43. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $3.27 billion, a PE ratio of 11.34 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $331.76 million during the quarter. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. During the same quarter in the previous year, the business posted $0.17 earnings per share. Equities analysts expect that Eldorado Gold Co. will post 1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGO. Tobam raised its stake in Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock valued at $74,000 after buying an additional 651 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,336 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in Eldorado Gold during the third quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Eldorado Gold by 4.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company’s stock worth $679,000 after acquiring an additional 1,858 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Eldorado Gold during the 3rd quarter valued at $36,000. Institutional investors own 69.58% of the company’s stock.

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.