Eldorado Gold (NYSE:EGO) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Eldorado Gold's stock price recently surpassed its 200-day moving average, indicating a potential upward trend, with trades reaching as high as $27.62.
• Analyst ratings for Eldorado Gold are mixed, with one "Strong Buy," three "Buy," and three "Hold" ratings, contributing to a consensus rating of "Moderate Buy" with a target price of $23.60.
• The company’s quarterly earnings report indicated earnings per share of $0.44, falling short of analysts' expectations, although revenue exceeded estimates at $459.53 million.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.13 and traded as high as $27.62. Eldorado Gold shares last traded at $26.98, with a volume of 1,608,512 shares.

Analysts Set New Price Targets

EGO has been the subject of several research reports. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Eldorado Gold in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.60.

Eldorado Gold Price Performance

The stock's fifty day moving average price is $23.38 and its 200-day moving average price is $20.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.42 and a beta of 0.44.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results 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). The firm had revenue of $459.53 million for the quarter, compared to analyst estimates of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. Equities research analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

Several large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its position in Eldorado Gold by 7.8% in the second quarter. Osaic Holdings Inc. now owns 29,712 shares of the basic materials company's stock worth $604,000 after acquiring an additional 2,153 shares in the last quarter. State of Wyoming bought a new stake in shares of Eldorado Gold during the 2nd quarter worth $58,000. Headlands Technologies LLC bought a new stake in shares of Eldorado Gold during the 2nd quarter worth $32,000. Vident Advisory LLC boosted its holdings in shares of Eldorado Gold by 13.3% during the 2nd quarter. Vident Advisory LLC now owns 61,804 shares of the basic materials company's stock worth $1,257,000 after buying an additional 7,251 shares during the period. Finally, Oxford Asset Management LLP bought a new stake in shares of Eldorado Gold during the 2nd quarter worth $292,000. 69.58% of the stock is owned by institutional investors.

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.