Eldorado Gold (NYSE:EGO) Sees Large Volume Increase – Should You Buy?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) saw unusually-high trading volume on Tuesday . Approximately 1,275,296 shares changed hands during mid-day 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

EGO has been the topic of a number of recent research reports. StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. TD Securities lowered their target price 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. Finally, Scotiabank dropped their price target on Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.50.

Eldorado Gold Stock Up 0.2 %

The company has a market capitalization of $3.07 billion, a P/E ratio of 11.18 and a beta of 0.94. The company has a 50 day simple moving average of $15.61 and a two-hundred day simple moving average of $16.54. 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 released its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $331.76 million for the quarter. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. During the same period in the prior year, the firm posted $0.17 EPS. As a group, equities analysts predict that Eldorado Gold Co. will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in Eldorado Gold by 130.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after buying an additional 94,040 shares during the period. Navellier & Associates Inc. bought a new stake in shares of Eldorado Gold during the third quarter valued at approximately $878,000. JPMorgan Chase & Co. boosted its holdings in shares of Eldorado Gold by 130.7% in the third quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after purchasing an additional 85,053 shares during the period. Maverick Capital Ltd. bought a new position in Eldorado Gold in the second quarter worth approximately $1,256,000. Finally, Equinox Partners Investment Management LLC increased its holdings in Eldorado Gold by 32.0% during the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after purchasing an additional 239,800 shares during the period. Hedge funds and other 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.