Eldorado Gold (TSE:ELD) Shares Break Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Eldorado Gold shares broke above their 200-day moving average, reaching C$56.36 and last trading at C$55.24, compared with a 200-day average of C$48.98.
• Analyst sentiment has improved, with several firms upgrading the stock; Eldorado currently has a consensus rating of “Moderate Buy” and an average price target of C$61.25.
• The company reported quarterly earnings of C$0.77 per share on revenue of C$692.57 million, while an insider sold 1,239 shares at an average price of C$60.37.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$48.98 and traded as high as C$56.36. Eldorado Gold shares last traded at C$55.24, with a volume of 883,352 shares traded.

Wall Street Analyst Weigh In

ELD has been the topic of a number of recent analyst reports. Bank of America raised shares of Eldorado Gold from an "underperform" rating to a "buy" rating and increased their price target for the stock from C$32.00 to C$54.00 in a report on Tuesday, September 22nd. Jefferies Financial Group raised shares of Eldorado Gold to a "strong-buy" rating in a research note on Thursday, August 20th. Canaccord Genuity Group lifted their price objective on Eldorado Gold from C$55.00 to C$63.00 in a report on Tuesday, September 22nd. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 9th. Finally, National Bank Financial increased their target price 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. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$61.25.

Eldorado Gold Trading Down 1.1%

The stock has a market capitalization of C$14.41 billion, a PE ratio of 19.66, a P/E/G ratio of 56.20 and a beta of 1.69. The company's 50 day moving average price is C$55.86 and its two-hundred day moving average price is C$48.98. The company has a debt-to-equity ratio of 25.70, a current ratio of 1.31 and a quick ratio of 2.27.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last released its quarterly earnings data 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 company had revenue of C$692.57 million for the quarter. As a group, analysts expect that Eldorado Gold Co. will post 2.1505174 earnings per share for the current year.

Insider Buying and Selling

In other Eldorado Gold news, Director Seda Erdemir sold 1,239 shares of the stock in a transaction dated 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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