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

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) shares saw unusually-high trading volume on Tuesday . Approximately 1,275,296 shares traded hands during trading, a decline of 1% from the previous session’s volume of 1,282,161 shares.The stock last traded at $14.76 and had previously closed at $14.51.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Scotiabank reduced their price objective on shares of Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, TD Securities cut their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.50.

Eldorado Gold Stock Performance

The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 11.06 and a beta of 0.94. The stock’s 50 day moving average is $15.63 and its two-hundred day moving average is $16.56.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business 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 earnings per share. Analysts anticipate that Eldorado Gold Co. will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Large investors have recently modified their holdings of the stock. Perpetual Ltd acquired a new position in Eldorado Gold in the 4th quarter valued at $425,000. JPMorgan Chase & Co. increased its stake in shares of Eldorado Gold by 130.7% during the third quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock worth $2,607,000 after acquiring an additional 85,053 shares during the period. Tidal Investments LLC increased its stake in shares of Eldorado Gold by 1.8% during the third 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 period. Sanctuary Advisors LLC raised its holdings in Eldorado Gold by 331.4% during the third 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 in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Eldorado Gold by 84.9% in 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.