Insider Buying: Eldorado Gold (TSE:ELD) Director Purchases 21,000 Shares of Stock

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO) Director George Raymond Burns purchased 21,000 shares of Eldorado Gold stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of C$47.34 per share, for a total transaction of C$994,140.00. Following the completion of the transaction, the director owned 517,356 shares of the company’s stock, valued at approximately C$24,491,633.04. This represents a 4.23% increase in their position.

George Raymond Burns also recently made the following trade(s):

• On Wednesday, May 6th, George Raymond Burns sold 6,249 shares of Eldorado Gold stock. The stock was sold at an average price of C$43.17, for a total value of C$269,769.33.
• On Wednesday, May 6th, George Raymond Burns sold 61,327 shares of Eldorado Gold stock. The stock was sold at an average price of C$43.17, for a total value of C$2,647,486.59.

Eldorado Gold Stock Up 3.5%

Shares of ELD stock traded up C$1.65 during trading hours on Tuesday, reaching C$48.70. 1,076,279 shares of the company’s stock were exchanged, compared to its average volume of 802,806. The stock’s 50 day moving average is C$48.38 and its 200-day moving average is C$49.30. The company has a market cap of C$12.82 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 56.20 and a beta of 1.62. The company has a current ratio of 1.62, a quick ratio of 2.28 and a debt-to-equity ratio of 28.81. Eldorado Gold Co. has a fifty-two week low of C$23.99 and a fifty-two week high of C$69.46.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$0.95 earnings per share (EPS) for the quarter. The business had revenue of C$740.23 million for the quarter. Eldorado Gold had a return on equity of 13.69% and a net margin of 28.71%. Analysts predict that Eldorado Gold Co. will post 2.1505174 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ELD shares. Scotiabank raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. BMO Capital Markets set a C$82.00 price target on Eldorado Gold and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Canadian Imperial Bank of Commerce downgraded Eldorado Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Bank of America upped their target price on Eldorado Gold from C$46.25 to C$52.00 in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada downgraded Eldorado Gold from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$47.00 to C$48.00 in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Eldorado Gold presently has a consensus rating of “Moderate Buy” and an average target price of C$63.50.

Key Eldorado Gold News

Here are the key news stories impacting Eldorado Gold this week:

• Positive Sentiment: Director Daniel Myerson bought 332 shares, increasing his stake by 13.28%, which can be viewed as a vote of confidence in Eldorado Gold’s outlook.
• Neutral Sentiment: The company also reported regular insider trading activity around the same period, including several buys and sells, which may reflect portfolio management rather than a major change in fundamentals.
• Negative Sentiment: Multiple insiders and directors sold shares, including larger disposals by George Raymond Burns, Paul Anthony Ferneyhough, Frank Hamilton Herbert, Simon Oswald Hille, and Sylvain Lehoux, which may weigh on sentiment because investors often interpret broad insider selling as cautionary.

Eldorado Gold Company Profile

Eldorado Gold Corp is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece and Romania. It has a portfolio of high-quality assets and long-term partnerships with local communities. Some of its projects include Kisladag, Efemcukuru, Skouries; Perama Hill and Certej projects.