Eldorado Gold (TSE:ELD) Sets New 52-Week High - Here's What Happened

Key Points

• Eldorado Gold's share price achieved a new 52-week high of C$36.94, reflecting strong trading activity with 419,471 shares exchanged.
• Analysts have raised their target prices for Eldorado Gold, with the consensus now at C$32.10, signaling a strong bullish outlook for the stock.
• Recent insider sales indicate that company executives have sold stock valued over $1.18 million, with insiders currently owning only 0.58% of shares.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO reached a new 52-week high on Wednesday . The company traded as high as C$36.94 and last traded at C$36.31, with a volume of 419471 shares traded. The stock had previously closed at C$36.37.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ELD shares. National Bankshares upped their price objective on Eldorado Gold from C$38.00 to C$41.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Bank of America upped their price objective on Eldorado Gold from C$28.50 to C$33.50 in a research note on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold has an average rating of "Strong Buy" and a consensus target price of C$32.10.

Eldorado Gold Stock Performance

The business has a 50 day moving average of C$31.18 and a 200 day moving average of C$27.63. The company has a market capitalization of C$7.96 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 56.20 and a beta of 0.82. The company has a quick ratio of 2.28, a current ratio of 3.37 and a debt-to-equity ratio of 23.28.

Insider Transactions at Eldorado Gold

In related news, Senior Officer Graham Magnus Morrison sold 12,207 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of C$28.93, for a total transaction of C$353,092.36. Also, insider Ryan Swedburg sold 6,153 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$33.43, for a total value of C$205,694.79. Following the transaction, the insider directly owned 2,617 shares of the company's stock, valued at approximately C$87,486.31. The trade was a 70.16% decrease in their ownership of the stock. Insiders sold a total of 34,905 shares of company stock valued at $1,045,845 in the last ninety days. Corporate insiders own 0.58% of the company's stock.

Eldorado Gold Company Profile

Eldorado Gold Corp is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece and Romania. It has a portfolio of high-quality assets and long-term partnerships with local communities. Some of its projects include Kisladag, Efemcukuru, Skouries; Perama Hill and Certej projects.