Eldorado Gold (NYSE:EGO) Hits New 52-Week High - Time to Buy?

Key Points

• Eldorado Gold shares reached a new 52-week high at $29.93, marking a significant price increase from the previous close of $29.15.
• Several analysts have given Eldorado Gold a consensus rating of "Moderate Buy" with a price target of $23.60, reflecting optimism about the stock's future performance.
• The company reported earnings of $0.44 per share for the last quarter, which was below expectations, although it generated $459.53 million in revenue, exceeding estimates.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $29.92 and last traded at $29.93, with a volume of 101722 shares changing hands. The stock had previously closed at $29.15.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EGO shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Eldorado Gold in a report on Saturday, September 27th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Finally, CIBC restated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Stock Up 1.5%

The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.44 and a beta of 0.44. The business has a fifty day moving average of $25.04 and a 200 day moving average of $21.36.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $459.53 million during the quarter, compared to the consensus estimate of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. On average, equities analysts predict that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Institutional Trading of Eldorado Gold

Several large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Eldorado Gold in the 2nd quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in Eldorado Gold in the 2nd quarter valued at approximately $32,000. Continuum Advisory LLC grew its stake in shares of 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 acquiring an additional 1,945 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in Eldorado Gold by 35.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 587 shares during the last quarter. Finally, State of Wyoming bought a new stake in Eldorado Gold in the 2nd quarter valued at $58,000. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Company Profile

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.

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