Eldorado Gold (TSE:ELD) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Eldorado Gold's share price has surpassed its 200-day moving average, peaking at C$41.86 before closing at C$41.65 with a trading volume of 865,449 shares.
• Analysts have raised their price targets for Eldorado Gold, with Canaccord Genuity increasing it to C$42.00, indicating strong market confidence in the stock.
• Insider selling has been significant, with one insider selling 5,438 shares at an average price of C$32.56, representing a 45.91% decrease in their position.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$29.67 and traded as high as C$41.86. Eldorado Gold shares last traded at C$41.65, with a volume of 865,449 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELD. Canaccord Genuity Group upped their price target on shares of Eldorado Gold from C$30.00 to C$42.00 in a report on Thursday, October 2nd. Bank of America boosted their price objective on Eldorado Gold from C$28.50 to C$33.50 in a research report on Friday, August 29th. Finally, National Bankshares increased their target price on 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. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of C$33.75.

Eldorado Gold Stock Up 2.4%

The firm's 50-day simple moving average is C$34.89 and its 200-day simple moving average is C$29.67. 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 company has a market capitalization of C$8.46 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 56.20 and a beta of 1.12.

Insider Buying and Selling

In other Eldorado Gold news, insider Christine Tamiko Ohta sold 5,438 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider owned 6,408 shares in the company, valued at approximately C$208,644.48. This trade represents a 45.91% decrease in their position. Also, insider Lynette Gould sold 3,330 shares of Eldorado Gold stock in a transaction that occurred 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 directly owned 2,635 shares in the company, valued at C$92,075.33. The trade was a 55.83% decrease in their position. Insiders have sold a total of 20,091 shares of company stock valued at $679,773 over the last three months. 0.58% of the stock is owned by corporate 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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