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

Key Points

• Eldorado Gold's stock reached a new 52-week high at C$41.86 during mid-day trading, reflecting strong market interest.
• Brokerages have recently increased their price targets for Eldorado Gold, with Canaccord Genuity raising their target to C$42.00, contributing to a consensus rating of "Strong Buy."
• Insider transactions show significant sales, with one insider reducing their holdings by 55.83%, which raises potential concerns about insider confidence in the stock.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO's stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$41.86 and last traded at C$41.36, with a volume of 116285 shares traded. The stock had previously closed at C$40.68.

Analyst Ratings Changes

A number of brokerages recently commented on ELD. National Bankshares increased their price objective on shares of Eldorado Gold from C$38.00 to C$41.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Bank of America increased their price target on shares of Eldorado Gold from C$28.50 to C$33.50 in a research report on Friday, August 29th. Finally, Canaccord Genuity Group raised their price objective on shares of Eldorado Gold from C$30.00 to C$42.00 in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Buy" and an average price target of C$33.75.

Eldorado Gold Trading Up 2.1%

The business's 50-day moving average price is C$34.61 and its two-hundred day moving average price is C$29.53. The firm has a market cap of C$8.44 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 56.20 and a beta of 1.12. The company has a debt-to-equity ratio of 23.28, a current ratio of 3.37 and a quick ratio of 2.28.

Insider Transactions at Eldorado Gold

In other Eldorado Gold news, insider Christine Tamiko Ohta sold 5,438 shares of Eldorado Gold stock in a transaction on Monday, August 25th. The shares were 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 in the company, valued at C$208,644.48. This trade represents a 45.91% decrease in their position. Also, insider Lynette Gould sold 3,330 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of C$34.94, for a total value of C$116,360.86. Following the sale, the insider owned 2,635 shares of the company's stock, valued at approximately C$92,075.33. The trade was a 55.83% decrease in their ownership of the stock. Insiders have sold 20,091 shares of company stock worth $679,773 over the last quarter. 0.58% of the stock is currently owned by insiders.

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.

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