Eldorado Gold (TSE:ELD) Reaches New 1-Year High - Here's Why

Key Points

• Eldorado Gold Co. reached a new 52-week high of C$41.26 during trading, closing at C$40.45 with a volume of 72,470 shares traded.
• Several analysts have raised their price targets for Eldorado Gold, with Bank of America increasing its target from C$28.50 to C$33.50 and National Bank boosting theirs from C$38.00 to C$41.00.
• Insider selling activity has been notable, with two insiders selling a combined total of over 20,000 shares in the last ninety days, representing a significant decrease in their holdings.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO reached a new 52-week high during trading on Monday . The stock traded as high as C$41.26 and last traded at C$40.45, with a volume of 72470 shares changing hands. The stock had previously closed at C$40.18.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America upped their price objective on shares of Eldorado Gold from C$28.50 to C$33.50 in a report on Friday, August 29th. National Bankshares upped their price target on Eldorado Gold from C$38.00 to C$41.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat, Eldorado Gold currently has an average rating of "Strong Buy" and an average target price of C$32.10.

Eldorado Gold Price Performance

The firm has a fifty day moving average price of C$33.39 and a two-hundred day moving average price of C$28.90. The stock has a market capitalization of C$8.12 billion, a P/E ratio of 20.08, a P/E/G 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 Activity

In other Eldorado Gold news, insider Christine Tamiko Ohta sold 5,438 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of C$32.56, for a total value of C$177,061.28. Following the transaction, the insider owned 6,408 shares of the company's stock, valued at C$208,644.48. This represents a 45.91% decrease in their position. Also, insider Ryan Swedburg sold 6,153 shares of the stock in a transaction on Tuesday, August 26th. The stock was 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 in the company, valued at C$87,486.31. The trade was a 70.16% decrease in their position. Insiders have sold a total of 20,091 shares of company stock valued at $679,773 in the last ninety days. Corporate insiders own 0.58% of the company's stock.

About Eldorado Gold

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.

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