Eldorado Gold (TSE:ELD) Shares Break Above 200 Day Moving Average - Here's Why

Key Points

• Eldorado Gold shares broke above their 200-day moving average, reaching C$53.78 before closing at C$52.14, with 703,275 shares traded.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of C$61.25, with several firms recently raising targets or upgrading their ratings.
• The company reported C$0.77 in quarterly EPS on C$692.57 million in revenue, while maintaining solid profitability with a 29.89% net margin and 12.38% return on equity.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$49.38 and traded as high as C$53.78. Eldorado Gold shares last traded at C$52.14, with a volume of 703,275 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ELD. Jefferies Financial Group upgraded Eldorado Gold to a "strong-buy" rating in a research report on Thursday, August 20th. National Bank Financial raised their price target 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. Bank of America upgraded Eldorado Gold from an "underperform" rating to a "buy" rating and raised their price target for the company from C$32.00 to C$54.00 in a report on Tuesday, September 22nd. ATB Cormark Capital Markets lifted their price objective on Eldorado Gold from C$45.00 to C$64.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 10th. Finally, Stifel Nicolaus lifted their price objective on Eldorado Gold from C$65.00 to C$70.00 and gave the stock a "buy" rating in a research report on Thursday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$61.25.

Eldorado Gold Stock Performance

The stock has a market cap of C$13.60 billion, a P/E ratio of 18.56, a PEG ratio of 56.20 and a beta of 1.68. The stock has a fifty day simple moving average of C$57.64 and a 200-day simple moving average of C$49.38. The company has a quick ratio of 2.27, a current ratio of 1.31 and a debt-to-equity ratio of 25.70.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last announced its quarterly earnings results on Thursday, July 30th. The company reported C$0.77 EPS for the quarter. The company had revenue of C$692.57 million during the quarter. Eldorado Gold had a return on equity of 12.38% and a net margin of 29.89%. Equities analysts expect that Eldorado Gold Co. will post 2.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Seda Erdemir sold 1,239 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$60.37, for a total transaction of C$74,798.43. 0.58% of the stock is owned by insiders.

Eldorado Gold Company Profile

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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