Eldorado Gold (NYSE:EGO) Sets New 12-Month High - Here's What Happened

Key Points

• Eldorado Gold shares hit a new 52-week high of $28.66, closing at $28.12 with a trading volume of 232,657 shares.
• The company has a consensus rating of "Moderate Buy" from analysts, with a price target of $23.60, although one analyst has rated it as a Strong Buy.
• Eldorado Gold reported earnings per share (EPS) of $0.44 for the last quarter, missing the consensus estimate of $0.51, but exceeding revenue expectations with $459.53 million.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD's share price reached a new 52-week high during trading on Monday . The company traded as high as $28.66 and last traded at $28.12, with a volume of 232657 shares. The stock had previously closed at $28.06.

Analysts Set New Price Targets

A number of research firms have commented on EGO. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Finally, Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.60.

Eldorado Gold Stock Performance

The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. The company's 50-day moving average is $23.23 and its two-hundred day moving average is $20.23. The company has a market capitalization of $5.49 billion, a P/E ratio of 13.57, a PEG ratio of 0.43 and a beta of 0.44.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). The company had revenue of $459.53 million for the quarter, compared to analysts' expectations of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. Equities analysts anticipate that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Several large investors have recently bought and sold shares of EGO. Caitong International Asset Management Co. Ltd purchased a new position in Eldorado Gold in the second quarter worth about $32,000. Headlands Technologies LLC purchased a new position in Eldorado Gold in the second quarter worth about $32,000. Continuum Advisory LLC boosted its position in Eldorado Gold by 335.3% in the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after purchasing an additional 1,945 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Eldorado Gold by 35.4% in the second quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company's stock worth $46,000 after purchasing an additional 587 shares during the last quarter. Finally, State of Wyoming purchased a new position in Eldorado Gold in the second quarter worth about $58,000. 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.