Eldorado Gold (NYSE:EGO) Shares Gap Up - Here's Why

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD's stock price gapped up before the market opened on Monday . The stock had previously closed at $19.80, but opened at $20.60. Eldorado Gold shares last traded at $20.23, with a volume of 209,657 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EGO shares. National Bank Financial upgraded shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday. Scotiabank lifted their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. StockNews.com raised Eldorado Gold from a "hold" rating to a "buy" rating in a report on Thursday, April 10th. Finally, Royal Bank of Canada lifted their price target on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.38.

Eldorado Gold Stock Down 1.9 %

The firm has a market cap of $3.91 billion, a PE ratio of 13.61 and a beta of 0.81. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $16.35 and a two-hundred day simple moving average of $16.05.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $435.70 million during the quarter, compared to the consensus estimate of $440.43 million. As a group, sell-side analysts expect that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Continuum Advisory LLC grew its position 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 during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock worth $48,000 after buying an additional 682 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Eldorado Gold in the fourth quarter worth $55,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Eldorado Gold during the 4th quarter valued at $113,000. Finally, Tradition Wealth Management LLC purchased a new stake in Eldorado Gold during the 4th quarter valued at $153,000. 69.58% of the stock is currently owned by institutional investors.

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.