Eldorado Gold (NYSE:EGO) Sets New 1-Year High – Here’s Why

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) hit a new 52-week high on Monday . The stock traded as high as $37.48 and last traded at $37.3770, with a volume of 131771 shares traded. The stock had previously closed at $35.53.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. CIBC upped their price target on Eldorado Gold from $32.00 to $46.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Bank of America raised their price objective on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Monday, December 1st. Scotiabank lifted their price objective on Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Wall Street Zen cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.20.

Eldorado Gold Stock Performance

The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 0.45 and a beta of 0.57. The company has a current ratio of 2.79, a quick ratio of 2.28 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $29.19 and a 200-day simple moving average of $25.48.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. The firm had revenue of $436.44 million for the quarter, compared to analyst estimates of $422.25 million. Analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Swiss Life Asset Management Ltd bought a new stake in Eldorado Gold during the third quarter worth $270,000. Carrhae Capital LLP increased its position in Eldorado Gold by 10.6% during the 3rd quarter. Carrhae Capital LLP now owns 4,994,738 shares of the basic materials company’s stock valued at $144,298,000 after purchasing an additional 480,253 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Eldorado Gold by 0.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company’s stock worth $1,794,000 after acquiring an additional 582 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Eldorado Gold in the 3rd quarter valued at $37,000. Finally, Verition Fund Management LLC increased its position in Eldorado Gold by 14.1% in the 3rd quarter. Verition Fund Management LLC now owns 54,422 shares of the basic materials company’s stock valued at $1,572,000 after buying an additional 6,706 shares in the last quarter. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada?based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced?stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.