Eldorado Gold (TSE:ELD) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Shares of Eldorado Gold have recently surpassed their 200-day moving average, trading as high as C$31.22, with the current price at C$31.03.
• Analysts have increased Eldorado Gold's target prices, with Stifel Nicolaus raising it from C$25.00 to C$29.00 and National Bankshares from C$38.00 to C$41.00, reflecting a positive outlook for the company.
• Insider transactions show significant selling activity, with insiders selling a total of C$5.31 million in shares over the past ninety days.

Shares of Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$25.60 and traded as high as C$31.22. Eldorado Gold shares last traded at C$31.03, with a volume of 359,748 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Eldorado Gold from C$25.00 to C$29.00 in a research note on Monday, April 21st. National Bankshares boosted their price objective 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 assigned a Buy rating to the stock. According to data from MarketBeat.com, Eldorado Gold presently has an average rating of "Strong Buy" and an average target price of C$31.75.

Eldorado Gold Trading Down 3.1%

The company has a current ratio of 3.37, a quick ratio of 2.28 and a debt-to-equity ratio of 23.28. The stock has a market cap of C$4.42 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 56.20 and a beta of 1.22. The business's fifty day simple moving average is C$28.85 and its 200 day simple moving average is C$25.78.

Insider Activity at Eldorado Gold

In other news, Senior Officer Nicolae Stanca sold 4,737 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of C$28.96, for a total value of C$137,172.62. Also, Senior Officer Per Niklas Frank sold 11,107 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of C$27.91, for a total value of C$309,996.37. Insiders have sold 182,964 shares of company stock worth $5,310,299 over the last 90 days. 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.