Eldorado Gold (NYSE:EGO) Sees Unusually-High Trading Volume – Should You Buy?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) saw strong trading volume on Wednesday . 550,165 shares were traded 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.

Analyst Ratings Changes

Several analysts have weighed in on EGO shares. TD Securities dropped their target price on shares of 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 downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note 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’s stock. According to MarketBeat.com, Eldorado Gold presently has a consensus rating of “Hold” and a consensus target price of $20.88.

Eldorado Gold Trading Down 2.6 %

The stock has a 50-day moving average of $15.70 and a 200 day moving average of $16.55. 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 has a market cap of $2.99 billion, a PE ratio of 10.88 and a beta of 0.94.

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

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors have recently modified their holdings of the stock. Perpetual Ltd acquired a new stake in Eldorado Gold during the fourth quarter worth about $425,000. JPMorgan Chase & Co. boosted its position in Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock worth $2,607,000 after purchasing an additional 85,053 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Eldorado Gold by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock worth $15,783,000 after purchasing an additional 15,652 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Eldorado Gold by 331.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company’s stock worth $2,295,000 after purchasing an additional 106,438 shares during the period. Finally, Toronto Dominion Bank increased its holdings in shares of Eldorado Gold by 84.9% during the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 8,512 shares in the last quarter. Hedge funds and other 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.