Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD's stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.61 and last traded at $26.34, with a volume of 2154539 shares changing hands. The stock had previously closed at $26.12.
Analyst Upgrades and Downgrades
EGO has been the subject of several recent research reports. Wall Street Zen lowered Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Finally, National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Eldorado Gold currently has an average rating of "Moderate Buy" and an average target price of $23.60.
Check Out Our Latest Analysis on EGO
Eldorado Gold Stock Up 0.8%
The company has a 50-day moving average price of $22.13 and a 200 day moving average price of $19.57. The firm has a market capitalization of $5.35 billion, a PE ratio of 13.23, a P/E/G ratio of 0.42 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 earnings results 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). The firm had revenue of $459.53 million during the quarter, compared to analysts' expectations of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. Analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.
Institutional Investors Weigh In On Eldorado Gold
A number of hedge funds have recently made changes to their positions in EGO. Arrowstreet Capital Limited Partnership lifted its position in shares of Eldorado Gold by 228.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,994,328 shares of the basic materials company's stock worth $101,649,000 after buying an additional 3,472,504 shares in the last quarter. Candriam S.C.A. purchased a new stake in Eldorado Gold during the first quarter valued at approximately $27,281,000. L1 Capital Pty Ltd raised its position in 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 valued at $147,580,000 after purchasing an additional 1,621,173 shares during the period. Invenomic Capital Management LP raised its position in Eldorado Gold by 127.2% during the first quarter. Invenomic Capital Management LP now owns 2,262,181 shares of the basic materials company's stock valued at $38,050,000 after purchasing an additional 1,266,329 shares during the period. Finally, ANTIPODES PARTNERS Ltd raised its position in Eldorado Gold by 43.5% during the first quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock valued at $63,970,000 after purchasing an additional 1,152,909 shares during the period. 69.58% of the stock is currently owned by hedge funds and other institutional investors.
About Eldorado Gold
(
Get Free Report)
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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