Eldorado Gold (NYSE:EGO) Stock Price Up 3.4% – Here’s Why

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) traded up 3.4% during trading on Wednesday . The stock traded as high as $15.92 and last traded at $15.90. 295,793 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 617,815 shares. The stock had previously closed at $15.37.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EGO. TD Securities cut their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.88.

Eldorado Gold Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The business’s 50-day moving average price is $15.81 and its two-hundred day moving average price is $16.53. The company has a market capitalization of $3.27 billion, a P/E ratio of 11.92 and a beta of 0.93.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 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 period in the prior year, the business earned $0.17 EPS. As a group, analysts forecast that Eldorado Gold Co. will post 1.42 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

Several hedge funds and other institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in Eldorado Gold during the third quarter valued at approximately $32,000. Blue Trust Inc. grew its stake 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 valued at $33,000 after buying an additional 1,336 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Eldorado Gold in the third quarter valued at $36,000. Point72 DIFC Ltd bought a new stake in Eldorado Gold during the second quarter worth $74,000. Finally, Headlands Technologies LLC acquired a new stake in Eldorado Gold in the second quarter valued at $97,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.