Eldorado Gold (TSE:ELD) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Eldorado Gold Co. (TSE:ELD - Get Free Report) NYSE: EGO crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$50.90 and traded as high as C$53.47. Eldorado Gold shares last traded at C$52.80, with a volume of 491,659 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Canaccord Genuity Group lowered Eldorado Gold from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$57.00 to C$47.00 in a research note on Friday, October 30th. National Bank Financial cut their price objective on Eldorado Gold from C$74.00 to C$68.00 and set an "outperform" rating on the stock in a report on Monday, November 2nd. Stifel Nicolaus lifted their price objective on Eldorado Gold from C$65.00 to C$70.00 and gave the company a "buy" rating in a research note on Thursday, September 17th. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 9th. Finally, ATB Cormark Capital Markets dropped their target price on shares of Eldorado Gold from C$64.00 to C$61.00 and set a "sector perform" rating for the company in a research report on Friday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Eldorado Gold currently has an average rating of "Moderate Buy" and a consensus price target of C$58.75.

Eldorado Gold Trading Up 5.1%

The firm has a market cap of C$13.78 billion, a P/E ratio of 17.84, a P/E/G ratio of 56.20 and a beta of 2.07. The firm has a fifty day moving average of C$53.75 and a 200-day moving average of C$50.90. The company has a debt-to-equity ratio of 28.90, a quick ratio of 2.27 and a current ratio of 1.42.

Eldorado Gold (TSE:ELD - Get Free Report) NYSE: EGO last posted its earnings results on Wednesday, October 28th. The company reported C$0.70 EPS for the quarter. Eldorado Gold had a net margin of 31.67% and a return on equity of 11.96%. The firm had revenue of C$728.69 million during the quarter. Equities research analysts forecast that Eldorado Gold Co. will post 2.15 earnings per share for the current year.

Insiders Place Their Bets

In other Eldorado Gold news, Director Seda Erdemir sold 1,239 shares of Eldorado Gold 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 owned by insiders.

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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