Eldorado Gold (NYSE:EGO) Stock Price Up 3.4% – What’s Next?

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

Analysts Set New Price Targets

EGO has been the topic of several research reports. TD Securities decreased their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com lowered 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.88.

Eldorado Gold Stock Down 0.5 %

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

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The firm had revenue of $331.76 million for the quarter. During the same quarter in the prior year, the business earned $0.17 EPS. On average, equities research analysts expect that Eldorado Gold Co. will post 1.42 earnings per share for the current year.

Institutional Trading of Eldorado Gold

Several hedge funds have recently modified their holdings of EGO. Jennison Associates LLC grew its position in Eldorado Gold by 65.0% in the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock valued at $104,777,000 after purchasing an additional 2,376,241 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Eldorado Gold by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock valued at $68,149,000 after buying an additional 136,900 shares in the last quarter. Equinox Partners Investment Management LLC grew its holdings in shares of Eldorado Gold by 32.0% during the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after buying an additional 239,800 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Eldorado Gold by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock worth $15,783,000 after acquiring an additional 15,652 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after acquiring an additional 118,760 shares in the last quarter. 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.