Eldorado Gold (NYSE:EGO) Sees Unusually-High Trading Volume – What’s Next?

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) saw strong trading volume on Wednesday . 550,165 shares changed hands during mid-day trading, a decline of 37% from the previous session’s volume of 869,858 shares.The stock last traded at $15.13 and had previously closed at $15.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EGO shares. TD Securities decreased their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold presently has an average rating of “Hold” and an average price target of $20.88.

Eldorado Gold Trading Down 2.6 %

The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $15.70 and its two-hundred day moving average is $16.55. The company has a market capitalization of $2.99 billion, a PE ratio of 10.88 and a beta of 0.94.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same period in the previous year, the company posted $0.17 EPS. As a group, sell-side analysts predict that Eldorado Gold Co. will post 1.44 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new stake in shares of Eldorado Gold during the 3rd quarter worth $32,000. Blue Trust Inc. raised its holdings in 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 purchasing an additional 1,336 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Eldorado Gold during the third quarter valued at about $36,000. Point72 DIFC Ltd bought a new stake in shares of Eldorado Gold in the 2nd quarter valued at about $74,000. Finally, Net Worth Advisory Group purchased a new position in shares of Eldorado Gold in the 3rd quarter worth approximately $198,000. Institutional investors 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.