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

Key Points

• Eldorado Gold's stock reached a new 52-week high of C$42.31 during trading on Thursday, closing at C$42.18 with a volume of 251,757 shares.
• Analysts have increased their price targets for Eldorado Gold, with National Bankshares and Canaccord Genuity raising their projections to C$41.00 and C$42.00 respectively, indicating a strong market sentiment.
• Insider trading activity includes significant sales by company insiders, with Ryan Swedburg and Lynette Gould reducing their holdings by 70.16% and 55.83%, respectively.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO's stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$42.31 and last traded at C$42.18, with a volume of 251757 shares trading hands. The stock had previously closed at C$41.01.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ELD. National Bankshares upped 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 upped their price objective on shares of Eldorado Gold from C$28.50 to C$33.50 in a research note on Friday, August 29th. Finally, Canaccord Genuity Group upped their price objective on shares of Eldorado Gold from C$30.00 to C$42.00 in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Strong Buy" and a consensus target price of C$33.75.

Eldorado Gold Trading Up 4.5%

The company has a market capitalization of C$8.71 billion, a P/E ratio of 21.53, a P/E/G 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. The stock's 50 day moving average is C$36.29 and its 200-day moving average is C$30.36.

Insiders Place Their Bets

In other Eldorado Gold news, insider Ryan Swedburg sold 6,153 shares of the company's stock in a transaction dated 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 sale, the insider owned 2,617 shares in the company, valued at approximately C$87,486.31. This represents a 70.16% decrease in their ownership of the stock. Also, insider Lynette Gould sold 3,330 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of C$34.94, for a total transaction of C$116,360.86. Following the completion of the sale, the insider owned 2,635 shares in the company, valued at approximately C$92,075.33. This trade represents a 55.83% decrease in their position. Over the last quarter, insiders have sold 20,091 shares of company stock worth $679,773. 0.58% of the stock is currently owned by company insiders.

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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