Eldorado Gold (NYSE:EGO) Stock Price Up 4.1% – What’s Next?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price rose 4.1% during mid-day trading on Monday . The company traded as high as $13.83 and last traded at $13.95. Approximately 881,764 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,785,898 shares. The stock had previously closed at $13.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. TD Securities dropped their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. Scotiabank dropped their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.00.

Eldorado Gold Trading Up 5.5 %

The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 10.11 and a beta of 0.93. The firm’s 50-day moving average is $15.01 and its 200 day moving average is $16.28.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The company had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. On average, equities analysts predict that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC lifted its stake in shares of Eldorado Gold by 17.5% in the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock worth $105,431,000 after acquiring an additional 1,058,137 shares during the period. BNP Paribas Financial Markets raised its holdings in Eldorado Gold by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock worth $2,885,000 after purchasing an additional 94,040 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock worth $2,607,000 after purchasing an additional 85,053 shares during the period. Navellier & Associates Inc. bought a new stake in shares of Eldorado Gold in the 3rd quarter valued at $878,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Eldorado Gold by 33.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 202,000 shares of the basic materials company’s stock worth $3,515,000 after buying an additional 50,500 shares during the period. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.