Eldorado Gold (NYSE:EGO) Reaches New 1-Year High on Analyst Upgrade

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) hit a new 52-week high during mid-day trading on Thursday after CIBC raised their price target on the stock from $18.00 to $22.50. CIBC currently has an outperformer rating on the stock. Eldorado Gold traded as high as $16.71 and last traded at $16.54, with a volume of 388486 shares. The stock had previously closed at $16.17.

EGO has been the subject of several other reports. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Royal Bank of Canada raised Eldorado Gold from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $14.00 to $20.00 in a report on Wednesday, May 29th. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. Finally, Scotiabank boosted their price objective on shares of Eldorado Gold from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.50.

Institutional Trading of Eldorado Gold

Several institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in Eldorado Gold by 1.7% in the first quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company’s stock valued at $316,950,000 after purchasing an additional 380,991 shares during the period. Donald Smith & CO. Inc. raised its holdings in shares of Eldorado Gold by 9.8% during the first quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock valued at $196,261,000 after purchasing an additional 1,240,732 shares during the period. Vanguard Group Inc. raised its stake in Eldorado Gold by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company’s stock worth $95,858,000 after buying an additional 38,630 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Eldorado Gold by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock valued at $54,517,000 after acquiring an additional 295,282 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Eldorado Gold in the 1st quarter worth $36,374,000. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52. The business’s fifty day moving average price is $15.42 and its 200-day moving average price is $13.80. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 0.29 and a beta of 0.92.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Friday, April 26th. The basic materials company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. The firm had revenue of $257.97 million during the quarter. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. During the same quarter last year, the business posted $0.11 EPS. On average, research analysts forecast that Eldorado Gold Co. will post 1.09 EPS for the current year.

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.