Eldorado Gold (TSE:ELD) Reaches New 52-Week High – Here’s What Happened

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$67.95 and last traded at C$67.88, with a volume of 100050 shares. The stock had previously closed at C$63.30.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ELD shares. Canaccord Genuity Group upgraded Eldorado Gold from a “hold” rating to a “buy” rating and upped their price objective for the company from C$42.00 to C$54.00 in a report on Wednesday, October 22nd. BMO Capital Markets boosted their target price on Eldorado Gold from C$59.00 to C$74.00 in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$43.58.

Eldorado Gold Price Performance

The company has a 50-day moving average of C$48.73 and a 200-day moving average of C$39.78. The company has a debt-to-equity ratio of 23.28, a quick ratio of 2.28 and a current ratio of 3.37. The firm has a market capitalization of C$13.29 billion, a price-to-earnings ratio of 36.73, a price-to-earnings-growth ratio of 56.20 and a beta of 1.38.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last announced its quarterly earnings results on Thursday, October 30th. The company reported C$0.27 earnings per share for the quarter. The firm had revenue of C$605.32 million for the quarter. Eldorado Gold had a net margin of 23.32% and a return on equity of 7.60%. As a group, research analysts anticipate that Eldorado Gold Co. will post 2.1505174 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Christian Milau bought 2,700 shares of Eldorado Gold stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of C$36.99 per share, with a total value of C$99,873.00. Following the purchase, the insider owned 11,290 shares in the company, valued at approximately C$417,617.10. This trade represents a 31.43% increase in their ownership of the stock. Corporate insiders own 0.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corp is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece and Romania. It has a portfolio of high-quality assets and long-term partnerships with local communities. Some of its projects include Kisladag, Efemcukuru, Skouries; Perama Hill and Certej projects.