Eldorado Gold (NYSE:EGO) Trading Down 5.2% - Time to Sell?

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD's stock price dropped 5.2% on Tuesday . The stock traded as low as $19.98 and last traded at $19.80. Approximately 309,888 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,681,572 shares. The stock had previously closed at $20.88.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EGO shares. Royal Bank Of Canada lifted their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Scotiabank upped their price target 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. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.70.

Eldorado Gold Stock Down 4.5%

The company has a current ratio of 3.12, a quick ratio of 2.53 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.09 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.35 and a beta of 0.46. The company's 50-day moving average is $20.02 and its 200 day moving average is $17.26.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 EPS 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 company had revenue of $341.59 million for the quarter, compared to analysts' expectations of $319.83 million. As a group, analysts anticipate that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently made changes to their positions in EGO. Continuum Advisory LLC lifted its holdings 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 valued at $42,000 after purchasing an additional 1,945 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Eldorado Gold by 26.5% during the 4th 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Eldorado Gold in the 4th quarter valued at about $55,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Eldorado Gold in the 4th quarter valued at approximately $113,000. Finally, Tradition Wealth Management LLC acquired a new position in Eldorado Gold during the 4th 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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