Eldorado Gold (NYSE:EGO) Trading Up 4.8%

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price traded up 4.8% during mid-day trading on Wednesday . The company traded as high as $15.53 and last traded at $15.53. 112,974 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,572,854 shares. The stock had previously closed at $14.82.

Analysts Set New Price Targets

A number of research firms recently commented on EGO. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. Scotiabank lifted their target price on Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada upgraded Eldorado Gold from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $14.00 to $20.00 in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.60.

Eldorado Gold Price Performance

The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 0.28 and a beta of 0.92. The company has a current ratio of 3.50, a quick ratio of 2.52 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $15.24 and a two-hundred day moving average price of $13.67.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $257.97 million for the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same period in the prior year, the business earned $0.11 earnings per share. As a group, research analysts forecast that Eldorado Gold Co. will post 1.09 EPS for the current year.

Institutional Trading of Eldorado Gold

Hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust bought a new position in Eldorado Gold in the 4th quarter worth about $35,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Eldorado Gold during the fourth quarter worth approximately $37,000. Tobam bought a new position in Eldorado Gold in the 4th quarter worth approximately $68,000. Bank of Nova Scotia increased its position in Eldorado Gold by 10.2% in the 3rd quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 1,343 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Eldorado Gold during the 4th quarter valued at $134,000. 69.58% of the stock is currently owned by institutional investors.

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.