Eldorado Gold (NYSE:EGO) Stock Price Up 3.4% – Here’s Why

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price rose 3.4% on Wednesday . The company traded as high as $15.92 and last traded at $15.90. Approximately 295,793 shares changed hands during trading, a decline of 52% from the average daily volume of 617,815 shares. The stock had previously closed at $15.37.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Royal Bank of Canada upped their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, TD Securities dropped their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold has a consensus rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Stock Performance

The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 11.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The stock’s 50-day moving average price is $15.88 and its 200-day moving average price is $16.54.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, equities research analysts expect that Eldorado Gold Co. will post 1.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in shares of Eldorado Gold during the third quarter worth about $32,000. Blue Trust Inc. lifted its stake in shares of Eldorado Gold by 232.8% during the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the period. Banque Cantonale Vaudoise purchased a new position in Eldorado Gold during the third quarter worth about $36,000. Point72 DIFC Ltd acquired a new stake in Eldorado Gold in the 2nd quarter worth about $74,000. Finally, Headlands Technologies LLC purchased a new stake in Eldorado Gold in the 2nd quarter valued at about $97,000. 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.