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

Key Points

• Eldorado Gold reached a new 52-week high of $21.82, currently trading at $21.15, with a market cap of $4.30 billion.
• A consensus target price for Eldorado Gold stands at $23.60, with most analysts giving it a "Moderate Buy" rating.
• In its latest earnings report, Eldorado Gold reported $0.44 EPS, falling short of the consensus estimate of $0.51, while revenue exceeded expectations at $459.53 million.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD reached a new 52-week high on Friday . The stock traded as high as $21.82 and last traded at $21.15, with a volume of 705516 shares changing hands. The stock had previously closed at $20.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Canaccord Genuity Group reduced their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Monday, May 5th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Scotiabank boosted their price objective on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.60.

Eldorado Gold Stock Performance

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 50 day simple moving average of $20.61 and a two-hundred day simple moving average of $17.95. The company has a market cap of $4.27 billion, a PE ratio of 10.57, a PEG ratio of 0.35 and a beta of 0.37.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued 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). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The firm had revenue of $459.53 million during the quarter, compared to analysts' expectations of $401.85 million. Equities analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Eldorado Gold during the second quarter worth approximately $32,000. Continuum Advisory LLC raised its stake in shares of Eldorado Gold by 335.3% during 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. raised its stake in shares of Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock worth $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Eldorado Gold by 142.6% in the first quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock valued at $151,000 after acquiring an additional 5,294 shares in the last quarter. Finally, Tradition Wealth Management LLC acquired a new position in shares of Eldorado Gold during the fourth quarter worth about $153,000. Hedge funds and other institutional investors 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.