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

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD shares gapped up prior to trading on Monday . The stock had previously closed at $18.30, but opened at $18.95. Eldorado Gold shares last traded at $18.64, with a volume of 208,812 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, April 23rd. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Scotiabank lifted their price objective on Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Canaccord Genuity Group reduced their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Monday. 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $21.70.

Eldorado Gold Stock Down 0.4 %

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 firm has a 50 day moving average price of $17.28 and a two-hundred day moving average price of $16.14. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 13.91 and a beta of 0.42.

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

Hedge Funds Weigh In On Eldorado Gold

A number of large investors have recently bought and sold shares of EGO. Continuum Advisory LLC grew its position in shares of Eldorado Gold by 335.3% during the first 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. TD Waterhouse Canada Inc. boosted 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 valued at $48,000 after buying an additional 682 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Eldorado Gold in the 4th quarter valued at about $55,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Eldorado Gold in the 4th quarter worth approximately $113,000. Finally, Tradition Wealth Management LLC acquired a new stake in shares of Eldorado Gold during the 4th quarter valued at $153,000. 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.