Eldorado Gold (NYSE:EGO) Sets New 1-Year High - Here's Why

Key Points

• Eldorado Gold's stock reached a new 52-week high at $25.55, closing at $25.42 with over 2.48 million shares traded.
• The consensus rating for Eldorado Gold remains at "Moderate Buy", with a price target of $23.60, despite some analysts lowering their ratings.
• Recent earnings reported $0.44 EPS, missing estimates by $0.07, while the company generated revenue of $459.53 million compared to expectations of $401.85 million.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD's share price hit a new 52-week high on Wednesday . The stock traded as high as $25.55 and last traded at $25.42, with a volume of 2486965 shares trading hands. The stock had previously closed at $24.78.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EGO shares. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Scotiabank reiterated a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Finally, Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $23.60.

Eldorado Gold Stock Performance

The firm's fifty day simple moving average is $22.01 and its 200 day simple moving average is $19.41. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.41 and a beta of 0.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65.

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

Institutional Trading of Eldorado Gold

Institutional investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. increased its stake in Eldorado Gold by 3.2% in the 1st quarter. Donald Smith & CO. Inc. now owns 12,492,756 shares of the basic materials company's stock valued at $210,128,000 after buying an additional 391,776 shares during the period. L1 Capital Pty Ltd raised its holdings in shares of Eldorado Gold by 22.7% during the first quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company's stock worth $147,580,000 after acquiring an additional 1,621,173 shares in the last quarter. Vanguard Group Inc. boosted its position in Eldorado Gold by 1.9% during the first quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company's stock valued at $134,984,000 after purchasing an additional 148,567 shares during the last quarter. Jennison Associates LLC grew its stake in Eldorado Gold by 10.3% in the second quarter. Jennison Associates LLC now owns 7,990,223 shares of the basic materials company's stock valued at $162,521,000 after purchasing an additional 744,419 shares in the last quarter. Finally, Carrhae Capital LLP increased its position in Eldorado Gold by 10.7% in the 1st quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company's stock worth $112,514,000 after purchasing an additional 648,574 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.