Eldorado Gold (NYSE:EGO) Stock Breaks Above 200 Day Moving Average - Time to Sell?

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD's share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $36.68 and traded as high as $37.87. Eldorado Gold shares last traded at $37.3920, with a volume of 1,870,271 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on EGO. Jefferies Financial Group started coverage on shares of Eldorado Gold in a research report on Thursday, August 20th. They issued a "buy" rating and a $50.00 price target for the company. Wall Street Zen lowered shares of Eldorado Gold from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a "neutral" rating to an "outperform" rating in a report on Sunday, August 9th. Royal Bank Of Canada boosted their price objective on Eldorado Gold from $37.00 to $41.00 and gave the stock a "sector perform" rating in a research report on Wednesday, September 16th. Finally, Zacks Research cut shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Eldorado Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.57.

Eldorado Gold Stock Performance

The firm has a market capitalization of $9.78 billion, a PE ratio of 12.46, a PEG ratio of 0.35 and a beta of 0.67. The company has a quick ratio of 0.84, a current ratio of 1.42 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $38.26 and a 200 day moving average of $36.68.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. The business had revenue of $511.90 million during the quarter, compared to analysts' expectations of $621.90 million. Equities research analysts predict that Eldorado Gold Corporation will post 2.69 EPS for the current year.

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 1st. Eldorado Gold's payout ratio is currently 10.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its holdings in Eldorado Gold by 4.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,895 shares of the basic materials company's stock worth $304,000 after buying an additional 360 shares in the last quarter. Continuum Advisory LLC purchased a new stake in Eldorado Gold in the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in Eldorado Gold by 8.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company's stock worth $351,000 after purchasing an additional 819 shares during the period. Farther Finance Advisors LLC grew its position in Eldorado Gold by 217.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company's stock worth $50,000 after purchasing an additional 887 shares during the period. Finally, Parallel Advisors LLC raised its stake in Eldorado Gold by 977.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,142 shares of the basic materials company's stock valued at $44,000 after buying an additional 1,036 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company headquartered in Vancouver, British Columbia. It explores for, develops and operates mineral properties, with gold as its primary product and silver and base metals also produced at some of its mines.

The company's portfolio spans Canada, Greece and Turkey. Its operations include the Lamaque Complex in Quebec, the Kisladag and Efemcukuru mines in Turkey, and the Olympias mine in Greece. Eldorado is also developing the Skouries copper-gold project in Greece.

Eldorado traces its origins to 1992 and has expanded through exploration, acquisitions and mine development.

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