Eldorado Gold (NYSE:EGO) Trading Down 8.5% - Time to Sell?

Key Points

• Eldorado Gold Corporation's share price fell by 8.5% recently, trading at $28.24 after reaching a low of $28.02, alongside a decrease in trading volume compared to averages.
• Analysts have mixed opinions on the stock, with one analyst declaring a “Strong Buy” rating while others have varied ratings from “Buy” to “Underperform,” leading to a consensus rating of “Moderate Buy” with an average price target of $26.67.
• Despite recent challenges, the company reported revenues exceeding expectations at $459.53 million during its last earnings report, although it missed the EPS estimate by $0.07.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD's share price dropped 8.5% on Friday . The stock traded as low as $28.02 and last traded at $28.24. Approximately 1,920,939 shares were traded during trading, a decline of 4% from the average daily volume of 2,003,333 shares. The stock had previously closed at $30.85.

Wall Street Analyst Weigh In

EGO has been the subject of several research analyst reports. CIBC lifted their price target on shares of Eldorado Gold from $32.00 to $46.00 and gave the company an "outperformer" rating in a research note on Friday, October 10th. Bank of America lifted their price objective on shares of Eldorado Gold from $25.00 to $28.00 and gave the company an "underperform" rating in a report on Thursday. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Weiss Ratings reissued a "buy (b)" rating on shares of Eldorado Gold in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.67.

Eldorado Gold Stock Down 8.3%

The company's fifty day simple moving average is $26.35 and its 200-day simple moving average is $22.07. 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 capitalization of $5.75 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.44 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 the consensus estimate of $0.51 by ($0.07). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%.The firm had revenue of $459.53 million during the quarter, compared to analysts' expectations of $401.85 million. On average, analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. purchased a new position in Eldorado Gold in the first quarter worth $374,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Eldorado Gold by 11.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock valued at $4,242,000 after buying an additional 25,000 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of Eldorado Gold by 43.5% during the first quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock valued at $63,970,000 after buying an additional 1,152,909 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Eldorado Gold by 645.2% during the first quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock valued at $2,821,000 after buying an additional 145,202 shares during the last quarter. Finally, Amundi grew its holdings in shares of Eldorado Gold by 17.7% during the first quarter. Amundi now owns 1,289,210 shares of the basic materials company's stock valued at $22,806,000 after buying an additional 193,586 shares during the last quarter. 69.58% of the stock is owned by hedge funds and other 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.

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