Eldorado Gold (TSE:ELD) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Eldorado Gold Co. (TSE:ELD) (NYSE:EGO) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$49.48 and traded as high as C$50.04. Eldorado Gold shares last traded at C$49.11, with a volume of 498,320 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “buy” rating and lowered their price target for the company from C$63.00 to C$57.00 in a report on Friday. National Bank Financial increased their target price on shares of Eldorado Gold from C$65.00 to C$69.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Jefferies Financial Group upgraded shares of Eldorado Gold to a “strong-buy” rating in a research note on Thursday, August 20th. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, August 9th. Finally, Stifel Nicolaus boosted their price objective on Eldorado Gold from C$65.00 to C$70.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Eldorado Gold presently has an average rating of “Buy” and a consensus target price of C$60.50.

Eldorado Gold Stock Performance

The stock’s 50-day moving average is C$57.12 and its 200-day moving average is C$49.45. The stock has a market cap of C$11.56 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 56.20 and a beta of 1.68. The company has a debt-to-equity ratio of 25.70, a current ratio of 1.31 and a quick ratio of 2.27.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last issued its quarterly earnings results on Thursday, July 30th. The company reported C$0.77 earnings per share for the quarter. Eldorado Gold had a return on equity of 12.38% and a net margin of 29.89%. The company had revenue of C$692.57 million during the quarter. Analysts anticipate that Eldorado Gold Co. will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Eldorado Gold news, Director Seda Erdemir sold 1,239 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$60.37, for a total transaction of C$74,798.43. Company insiders own 0.58% of the company’s stock.

About Eldorado Gold

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado’s common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).