Eldorado Gold (NYSE:EGO) Shares Cross Above 200-Day Moving Average of $14.81

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.81 and traded as high as $17.74. Eldorado Gold shares last traded at $17.74, with a volume of 731,557 shares traded.

Wall Street Analyst Weigh In

EGO has been the subject of a number of research reports. Scotiabank boosted their target price on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada upgraded shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $14.00 to $20.00 in a report on Wednesday, May 29th. Finally, CIBC upped their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Eldorado Gold currently has a consensus rating of “Hold” and an average price target of $18.88.

Eldorado Gold Trading Down 0.1 %

The firm has a market capitalization of $3.63 billion, a P/E ratio of 31.12, a PEG ratio of 0.25 and a beta of 0.91. The business’s 50 day moving average is $16.32 and its two-hundred day moving average is $14.81. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $297.14 million for the quarter. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. During the same quarter last year, the firm posted $0.09 earnings per share. Analysts expect that Eldorado Gold Co. will post 1.32 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGO. Cetera Investment Advisers grew its stake in shares of Eldorado Gold by 61.0% in the second quarter. Cetera Investment Advisers now owns 73,864 shares of the basic materials company’s stock worth $1,092,000 after acquiring an additional 27,991 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Eldorado Gold by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock worth $2,499,000 after purchasing an additional 2,472 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Eldorado Gold by 230.6% during the 2nd quarter. Millennium Management LLC now owns 188,529 shares of the basic materials company’s stock worth $2,788,000 after purchasing an additional 332,913 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Eldorado Gold during the second quarter valued at about $1,256,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Eldorado Gold in the second quarter valued at about $191,000. 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.