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

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD shares gapped down prior to trading on Friday . The stock had previously closed at $20.59, but opened at $19.96. Eldorado Gold shares last traded at $19.83, with a volume of 509,272 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. National Bank Financial raised shares of Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Wall Street Zen upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Royal Bank Of Canada increased their target price on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday. Finally, 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 report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Eldorado Gold currently has an average rating of "Moderate Buy" and an average target price of $21.70.

Eldorado Gold Stock Down 3.6%

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.12 and a quick ratio of 2.53. The firm's 50 day moving average is $19.86 and its two-hundred day moving average is $17.02. The firm has a market capitalization of $4.07 billion, a P/E ratio of 12.48, a PEG ratio of 0.35 and a beta of 0.47.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a return on equity of 8.41% and a net margin of 23.10%. The firm had revenue of $341.59 million for the quarter, compared to analyst estimates of $319.83 million. Research analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Institutional Trading of Eldorado Gold

A number of hedge funds have recently made changes to their positions in EGO. Continuum Advisory LLC raised its position in shares of Eldorado Gold by 335.3% in the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,945 shares during the period. TD Waterhouse Canada Inc. grew its stake in Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after buying an additional 682 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Eldorado Gold during the fourth quarter worth approximately $55,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Eldorado Gold during the fourth quarter worth approximately $113,000. Finally, Tradition Wealth Management LLC bought a new stake in shares of Eldorado Gold during the fourth quarter worth approximately $153,000. 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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