Eldorado Gold (TSE:ELD) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Eldorado Gold shares crossed above their 200-day moving average, reaching C$63.35 before closing at C$62.08 on heavy volume. The 200-day average was C$49.14.
• Analyst sentiment is generally positive, with a consensus “Buy” rating and an average price target of C$62.50. National Bank Financial raised its target to C$69, while several analysts upgraded the stock to “strong buy.”
• The company reported C$0.77 in quarterly earnings per share on C$692.57 million in revenue, with a 29.89% net margin. Insiders sold 21,915 shares worth approximately C$949,783 over the past quarter.

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$49.14 and traded as high as C$63.35. Eldorado Gold shares last traded at C$62.08, with a volume of 1,774,380 shares traded.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group raised Eldorado Gold to a "strong-buy" rating in a research note on Thursday, August 20th. National Bank Financial lifted their target price on Eldorado Gold from C$65.00 to C$69.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. ATB Cormark Capital Markets downgraded Eldorado Gold from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 4th. Canaccord Genuity Group increased their price target on Eldorado Gold from C$45.00 to C$55.00 in a report on Thursday, August 13th. Finally, Stifel Nicolaus upgraded Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$62.50.

Eldorado Gold Stock Performance

The stock has a market capitalization of C$16.19 billion, a PE ratio of 22.09, a PEG ratio of 56.20 and a beta of 1.43. The business's 50 day moving average is C$49.19 and its 200 day moving average is C$49.14. 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 posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.77 earnings per share for the quarter. The company had revenue of C$692.57 million for the quarter. Eldorado Gold had a net margin of 29.89% and a return on equity of 12.38%. On average, equities research analysts predict that Eldorado Gold Co. will post 2.1505174 earnings per share for the current fiscal year.

Insider Activity at Eldorado Gold

In related news, insider Mehmet Yilmaz sold 5,000 shares of the business's 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 completion of the transaction, the insider owned 27,543 shares in the company, valued at C$1,223,460.06. The trade was a 15.36% decrease in their position. 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 completion of the transaction, the insider directly owned 16,777 shares in the company, valued at C$721,746.54. This trade represents a 36.21% decrease in their position. Over the last quarter, insiders bought 75 shares of company stock worth $3,347 and sold 21,915 shares worth $949,783. Corporate insiders own 0.58% of the company's stock.

Eldorado Gold Company Profile

Eldorado Gold Corp is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece and Romania. It has a portfolio of high-quality assets and long-term partnerships with local communities. Some of its projects include Kisladag, Efemcukuru, Skouries; Perama Hill and Certej projects.

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