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

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Canaccord Genuity Group dropped their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research note on Monday, May 5th. 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. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Finally, 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. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Eldorado Gold presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.70.

Eldorado Gold Stock Performance

The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 15.31 and a beta of 0.47. The company has a 50 day simple moving average of $19.43 and a 200 day simple moving average of $16.74.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its earnings results 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). The business had revenue of $341.59 million for the quarter, compared to analyst estimates of $319.83 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. As a group, equities research analysts forecast that Eldorado Gold Co. will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. raised its stake in 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 acquiring an additional 682 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Eldorado Gold by 0.3% during the fourth quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company's stock worth $3,737,000 after purchasing an additional 804 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Eldorado Gold by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company's stock worth $2,664,000 after purchasing an additional 1,174 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its holdings in shares of Eldorado Gold by 7.0% during the first quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company's stock worth $329,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Eldorado Gold by 4.7% during the fourth quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock worth $496,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors and hedge funds 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.