Eldorado Gold (NYSE:EGO) Hits New 1-Year High - What's Next?

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $21.74 and last traded at $21.00, with a volume of 2651293 shares traded. The stock had previously closed at $20.09.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EGO shares. Royal Bank of Canada upped their target price on shares of 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 upgraded shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Wall Street Zen downgraded shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Canaccord Genuity Group decreased their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Eldorado Gold currently has an average rating of "Moderate Buy" and an average target price of $21.70.

Eldorado Gold Price Performance

The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 14.96 and a beta of 0.42. The firm's fifty day moving average is $18.73 and its 200-day moving average is $16.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

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

Institutional Trading of Eldorado Gold

Several institutional investors have recently added to or reduced their stakes in EGO. Barclays PLC raised its holdings in Eldorado Gold by 18.6% in the third quarter. Barclays PLC now owns 176,381 shares of the basic materials company's stock valued at $3,064,000 after acquiring an additional 27,667 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Eldorado Gold by 17.5% during the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company's stock worth $105,431,000 after purchasing an additional 1,058,137 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Eldorado Gold by 12.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,300 shares of the basic materials company's stock worth $3,376,000 after purchasing an additional 25,300 shares during the period. CIBC Asset Management Inc raised 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 period. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of Eldorado Gold by 16.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 20,000 shares of the basic materials company's stock worth $297,000 after purchasing an additional 2,775 shares during the period. 69.58% of the stock is 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.