Eldorado Gold (NYSE:EGO) Shares Up 3.7% – Here’s Why

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) traded up 3.7% on Thursday . The stock traded as high as $15.20 and last traded at $15.19. Approximately 331,584 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,777,741 shares. The stock had previously closed at $14.65.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EGO. Scotiabank reduced their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Eldorado Gold Trading Down 0.2 %

The company’s fifty day moving average is $14.74 and its two-hundred day moving average is $15.98. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 10.90 and a beta of 1.11. 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 announced its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. On average, research analysts predict that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its stake in shares of Eldorado Gold by 26.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 682 shares during the period. CIBC Asset Management Inc grew its holdings in Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock valued at $3,737,000 after purchasing an additional 804 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Eldorado Gold by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company’s stock worth $2,664,000 after acquiring an additional 1,174 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Eldorado Gold by 4.7% in the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock valued at $496,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Eldorado Gold in the 3rd quarter valued at about $36,000. 69.58% of the stock is owned by institutional investors and hedge funds.

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.