Eldorado Gold (NYSE:EGO) Shares Down 5.4% - What's Next?

Key Points

• Eldorado Gold's shares fell by 5.4% on Thursday, trading as low as $27.37, with a significant decline in trading volume compared to its average.
• Recent analyst ratings include a "buy" from Weiss Ratings and Wall Street Zen, with the stock having a consensus rating of "Moderate Buy" and a price target of $23.60.
• The company reported earnings of $0.44 per share for the last quarter, missing expectations, but achieved a higher-than-expected revenue of $459.53 million.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD shares were down 5.4% during mid-day trading on Thursday . The company traded as low as $27.37 and last traded at $27.47. Approximately 836,610 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 1,966,741 shares. The stock had previously closed at $29.04.

Analyst Upgrades and Downgrades

EGO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Eldorado Gold in a research note on Wednesday. Wall Street Zen raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Scotiabank reaffirmed a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Finally, CIBC restated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Price Performance

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 firm has a market cap of $5.56 billion, a P/E ratio of 13.74, a PEG ratio of 0.44 and a beta of 0.44. The business's fifty day simple moving average is $25.70 and its 200-day simple moving average is $21.65.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The company had revenue of $459.53 million for the quarter, compared to the consensus estimate of $401.85 million. As a group, analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of EGO. Caitong International Asset Management Co. Ltd bought a new position in shares of Eldorado Gold in the second quarter worth $32,000. Headlands Technologies LLC bought a new position in Eldorado Gold in the 2nd quarter worth about $32,000. TD Waterhouse Canada Inc. increased its stake in Eldorado Gold by 35.4% in 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 during the last quarter. Continuum Advisory LLC increased its stake in Eldorado Gold by 335.3% in 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 during the last quarter. Finally, State of Wyoming bought a new position in shares of Eldorado Gold in the second quarter worth approximately $58,000. Institutional investors own 69.58% of the company's stock.

About Eldorado Gold

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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