Eldorado Gold (NYSE:EGO) Hits New 1-Year High – What’s Next?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $18.87 and last traded at $18.87, with a volume of 2531 shares trading hands. The stock had previously closed at $18.62.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada raised their price target on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. CIBC raised their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank boosted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.38.

Eldorado Gold Stock Performance

The company has a market cap of $3.82 billion, a P/E ratio of 32.74 and a beta of 0.95. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $17.41 and a 200-day moving average price of $16.19.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The firm had revenue of $297.14 million during the quarter. During the same quarter in the prior year, the company earned $0.09 EPS. Equities analysts expect that Eldorado Gold Co. will post 1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in Eldorado Gold by 232.8% during the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,336 shares in the last quarter. Tobam lifted its holdings in shares of Eldorado Gold by 14.8% in the second 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 period. Point72 DIFC Ltd bought a new position in Eldorado Gold during the second quarter valued at about $74,000. Headlands Technologies LLC acquired a new position in Eldorado Gold during the second quarter worth about $97,000. Finally, Virtu Financial LLC bought a new stake in Eldorado Gold in the first quarter worth about $165,000. Institutional investors and hedge funds 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.