Eldorado Gold (NYSE:EGO) Reaches New 1-Year High - Should You Buy?

Shares of Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.98 and last traded at $21.38, with a volume of 8888 shares trading hands. The stock had previously closed at $21.03.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EGO shares. Scotiabank boosted their price target on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. National Bank Financial upgraded Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Wall Street Zen upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Royal Bank of Canada boosted their price target on Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.70.

Eldorado Gold Trading Up 0.9%

The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 15.15 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The firm's 50-day simple moving average is $19.31 and its 200 day simple moving average is $16.69.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $341.59 million for the quarter, compared to analyst estimates of $319.83 million. Equities analysts expect that Eldorado Gold Co. will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mudita Advisors LLP increased its holdings in shares of Eldorado Gold by 54.9% during the first quarter. Mudita Advisors LLP now owns 519,400 shares of the basic materials company's stock worth $8,736,000 after buying an additional 184,000 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Eldorado Gold by 50.0% during the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company's stock worth $13,426,000 after buying an additional 266,048 shares in the last quarter. Invenomic Capital Management LP increased its holdings in shares of 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 worth $38,050,000 after buying an additional 1,266,329 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Eldorado Gold by 47.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 115,295 shares of the basic materials company's stock worth $1,942,000 after buying an additional 36,848 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new position in shares of Eldorado Gold during the first quarter worth $16,815,000. 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.