Eldorado Gold (NYSE:EGO) Reaches New 12-Month High – What’s Next?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $39.59 and last traded at $39.6230, with a volume of 87824 shares changing hands. The stock had previously closed at $38.28.

Analyst Ratings Changes

EGO has been the subject of a number of recent research reports. Canaccord Genuity Group upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. CIBC raised their price objective on Eldorado Gold from $32.00 to $46.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, October 8th. Bank of America boosted their target price on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Monday, December 1st. Finally, Wall Street Zen lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.20.

Eldorado Gold Stock Performance

The stock has a market cap of $7.96 billion, a P/E ratio of 22.04, a P/E/G ratio of 0.20 and a beta of 0.54. The company has a fifty day moving average price of $32.15 and a 200 day moving average price of $27.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.28.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Eldorado Gold had a return on equity of 8.89% and a net margin of 22.15%.The business had revenue of $436.44 million for the quarter, compared to the consensus estimate of $422.25 million. On average, equities analysts expect that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Several large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in Eldorado Gold in the 2nd quarter valued at approximately $32,000. Headlands Technologies LLC bought a new position in shares of Eldorado Gold in the second quarter worth $32,000. Aventura Private Wealth LLC purchased a new position in shares of Eldorado Gold in the fourth quarter valued at $36,000. Wexford Capital LP bought a new stake in shares of Eldorado Gold during the 3rd quarter valued at $37,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in Eldorado Gold by 35.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 587 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 is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.