Eldorado Gold (TSE:ELD) Shares Break Above 200 Day Moving Average - What's Next?

Key Points

• Eldorado Gold shares broke above their 200-day moving average, reaching C$50.04 before closing at C$49.11, while trading volume totaled approximately 498,320 shares.
• Analysts have generally become more bullish, with several firms raising price targets; the stock carries a “Moderate Buy” consensus rating and an average target of C$61.25.
• The company reported quarterly revenue of C$692.57 million and earnings of C$0.77 per share, 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 Wednesday. The stock has a 200-day moving average of C$49.48 and traded as high as C$50.04. Eldorado Gold shares last traded at C$49.11, with a volume of 498,320 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on ELD. Stifel Nicolaus upped their price objective on shares of 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. Bank of America upgraded shares of Eldorado Gold from an "underperform" rating to a "buy" rating and increased their price objective for the stock from C$32.00 to C$54.00 in a research note on Tuesday, September 22nd. ATB Cormark Capital Markets raised their target price on shares of Eldorado Gold from C$45.00 to C$64.00 and gave the company a "sector perform" rating in a report on Thursday, September 10th. National Bank Financial boosted their target price on shares of Eldorado Gold from C$65.00 to C$69.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group upgraded shares of Eldorado Gold to a "strong-buy" rating in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$61.25.

Eldorado Gold Stock Down 0.7%

The firm has a 50 day simple moving average of C$57.27 and a two-hundred day simple moving average of C$49.48. The company has a quick ratio of 2.27, a current ratio of 1.31 and a debt-to-equity ratio of 25.70. The stock has a market capitalization of C$12.81 billion, a P/E ratio of 17.48, a PEG ratio of 56.20 and a beta of 1.68.

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

Insider Buying and Selling at Eldorado Gold

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