Eldorado Gold (TSE:ELD) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Eldorado Gold's stock price has surpassed its 200-day moving average, trading as high as C$34.32, indicating a potential upward trend.
• Bank of America and National Bankshares recently raised their price targets for Eldorado Gold, with the stock currently holding a consensus rating of "Strong Buy" and an average target of C$32.10.
• Insider transactions disclosed recent sales of shares by senior officers, with a total of 41,571 shares sold in the last 90 days valued at over C$1.19 million.

Shares of Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.61 and traded as high as C$34.32. Eldorado Gold shares last traded at C$34.05, with a volume of 200,509 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ELD. 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 report on Wednesday, August 6th. Bank of America boosted their price objective on shares of Eldorado Gold from C$28.50 to C$33.50 in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, Eldorado Gold has a consensus rating of "Strong Buy" and a consensus target price of C$32.10.

Eldorado Gold Stock Performance

The firm has a market capitalization of C$7.15 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 56.20 and a beta of 0.79. The company has a debt-to-equity ratio of 23.28, a quick ratio of 2.28 and a current ratio of 3.37. The firm's 50 day moving average price is C$29.93 and its 200-day moving average price is C$26.72.

Insider Buying and Selling at Eldorado Gold

In other news, Senior Officer Christos Balaskas sold 2,367 shares of Eldorado Gold stock in a transaction on Thursday, June 5th. The stock was sold at an average price of C$29.51, for a total transaction of C$69,850.17. Also, Senior Officer Graham Magnus Morrison sold 12,207 shares of the firm's 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. Over the last ninety days, insiders have sold 30,773 shares of company stock valued at $880,456. 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.