Eldorado Gold (NYSE:EGO) Shares Gap Up – Time to Buy?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $15.49, but opened at $15.93. Eldorado Gold shares last traded at $15.92, with a volume of 257,137 shares traded.

Analyst Upgrades and Downgrades

EGO has been the subject of a number of recent analyst reports. Scotiabank lowered their price objective on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a research note on Friday, February 7th. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.00.

Eldorado Gold Trading Up 2.2 %

The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 11.28 and a beta of 1.11. The firm has a 50-day moving average price of $14.74 and a 200 day moving average price of $15.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The firm had revenue of $435.70 million during the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, sell-side analysts forecast that Eldorado Gold Co. will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new stake in shares of Eldorado Gold during the 3rd quarter worth approximately $36,000. Jennison Associates LLC grew its position in shares of Eldorado Gold by 65.0% during the third quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after acquiring an additional 2,376,241 shares during the last quarter. Navellier & Associates Inc. bought a new stake in Eldorado Gold in the 3rd quarter valued at about $878,000. Independent Advisor Alliance bought a new stake in Eldorado Gold in the 3rd quarter valued at about $544,000. Finally, The Manufacturers Life Insurance Company grew its position in Eldorado Gold by 55.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 264,111 shares of the basic materials company’s stock worth $4,592,000 after purchasing an additional 94,676 shares during the last quarter. Institutional investors and hedge funds 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.