Eldorado Gold (NYSE:EGO) Trading 5.7% Higher – Still a Buy?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s stock price was up 5.7% on Monday . The stock traded as high as $16.16 and last traded at $16.06. Approximately 240,143 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,534,215 shares. The stock had previously closed at $15.20.

Wall Street Analyst Weigh In

EGO has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Scotiabank raised their price target on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, TD Securities cut their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Trading Up 5.1 %

The firm has a market capitalization of $3.27 billion, a PE ratio of 11.34 and a beta of 0.95. The firm’s 50-day simple moving average is $17.22 and its 200-day simple moving average is $16.43. 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 posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The business had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the business earned $0.17 earnings per share. Equities analysts expect that Eldorado Gold Co. will post 1.41 earnings per share for the current year.

Institutional Investors Weigh In On Eldorado Gold

A number of large investors have recently added to or reduced their stakes in EGO. CANADA LIFE ASSURANCE Co grew its stake in shares of Eldorado Gold by 130.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company’s stock worth $890,000 after purchasing an additional 35,820 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Eldorado Gold in the 2nd quarter worth approximately $2,238,000. Maverick Capital Ltd. purchased a new position in shares of Eldorado Gold during the second quarter valued at approximately $1,256,000. Gabelli Funds LLC raised its holdings in shares of Eldorado Gold by 2.8% during the first quarter. Gabelli Funds LLC now owns 2,020,000 shares of the basic materials company’s stock valued at $28,421,000 after acquiring an additional 55,000 shares in the last quarter. Finally, Equinox Partners Investment Management LLC lifted its stake in Eldorado Gold by 32.0% in the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after acquiring an additional 239,800 shares during the period. 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.