Eldorado Gold (TSE:ELD) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Eldorado Gold shares broke above their 200-day moving average, reaching C$61.15 and last trading at C$60.51, compared with a 200-day average of C$49.00.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating and a C$62.50 consensus price target, while several firms recently upgraded the shares or raised their targets.
• The company reported C$0.77 in quarterly EPS and C$692.57 million in revenue, but recent insider activity was negative, with insiders selling 21,915 shares over the last quarter versus just 75 shares purchased.

Shares of Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$49.00 and traded as high as C$61.15. Eldorado Gold shares last traded at C$60.51, with a volume of 518,334 shares changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in on ELD shares. National Bank Financial upped their price objective on Eldorado Gold from C$65.00 to C$69.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Jefferies Financial Group upgraded shares of Eldorado Gold to a "strong-buy" rating in a research report on Thursday, August 20th. Canaccord Genuity Group upped their price target on shares of Eldorado Gold from C$45.00 to C$55.00 in a report on Thursday, August 13th. Stifel Nicolaus upgraded shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 9th. Four equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Eldorado Gold has an average rating of "Buy" and an average target price of C$62.50.

Eldorado Gold Price Performance

The stock has a 50-day moving average of C$51.12 and a two-hundred day moving average of C$49.00. The firm has a market cap of C$15.78 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 56.20 and a beta of 1.69. The company has a current ratio of 1.31, a quick ratio of 2.27 and a debt-to-equity ratio of 25.70.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last announced its earnings results on Thursday, July 30th. The company reported C$0.77 EPS for the quarter. Eldorado Gold had a net margin of 29.89% and a return on equity of 12.38%. The company had revenue of C$692.57 million during the quarter. On average, analysts anticipate that Eldorado Gold Co. will post 2.1505174 EPS for the current year.

Insider Activity at Eldorado Gold

In other news, insider Mehmet Yilmaz sold 5,000 shares of Eldorado Gold stock in a transaction on Friday, June 26th. The stock was sold at an average price of C$44.42, for a total transaction of C$222,100.00. Following the transaction, the insider owned 27,543 shares in the company, valued at approximately C$1,223,460.06. The trade was a 15.36% decrease in their ownership of the stock. Also, insider Per Niklas Frank sold 9,524 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of C$43.02, for a total value of C$409,722.48. Following the transaction, the insider directly owned 16,777 shares in the company, valued at C$721,746.54. The trade was a 36.21% decrease in their ownership of the stock. Over the last quarter, insiders have acquired 75 shares of company stock worth $3,347 and have sold 21,915 shares worth $949,783. Insiders own 0.58% of the company's stock.

About Eldorado Gold

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange TSX: ELD and the New York Stock Exchange NYSE: EGO.

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