Eldorado Gold (NYSE:EGO) Sets New 12-Month High - Should You Buy?

Key Points

• Eldorado Gold's share price reached a new 52-week high of $24.33, trading with a volume of nearly 1.02 million shares on Thursday.
• Despite strong revenue of $459.53 million in its last quarterly earnings, the company reported earnings per share of $0.44, missing analysts' estimates by $0.07.
• The stock currently holds a consensus rating of "Moderate Buy" with an average price target of $23.60, following recent mixed ratings from various research firms.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD's share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $24.33 and last traded at $24.29, with a volume of 1019719 shares traded. The stock had previously closed at $24.30.

Analyst Ratings Changes

Several research firms have recently issued reports on EGO. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Canaccord Genuity Group dropped their price objective on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $23.60.

Eldorado Gold Trading Down 0.0%

The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. The business's 50-day simple moving average is $21.37 and its two-hundred day simple moving average is $18.89. The company has a market capitalization of $4.94 billion, a PE ratio of 12.21, a PEG ratio of 0.39 and a beta of 0.37.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in Eldorado Gold during the 2nd quarter worth $32,000. Headlands Technologies LLC acquired a new position in Eldorado Gold during the 2nd quarter worth $32,000. Continuum Advisory LLC grew its holdings in Eldorado Gold by 335.3% during the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after acquiring an additional 1,945 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Eldorado Gold by 35.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company's stock worth $46,000 after acquiring an additional 587 shares in the last quarter. Finally, State of Wyoming acquired a new position in Eldorado Gold during the 2nd quarter worth $58,000. 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.

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