Eldorado Gold (TSE:ELD) Shares Cross Below 200 Day Moving Average – Here’s Why

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$50.44 and traded as low as C$45.19. Eldorado Gold shares last traded at C$45.41, with a volume of 946,421 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. ATB Cormark Capital Markets cut shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. BMO Capital Markets set a C$82.00 price objective on shares of Eldorado Gold and gave the stock an “outperform” rating in a report on Wednesday, April 15th. National Bank Financial raised their target price on shares of Eldorado Gold from C$63.00 to C$70.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Finally, TD dropped their price target on Eldorado Gold from C$45.00 to C$40.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$63.50.

Eldorado Gold Stock Performance

The company has a debt-to-equity ratio of 28.81, a current ratio of 1.62 and a quick ratio of 2.27. The business has a 50 day moving average price of C$44.47 and a 200 day moving average price of C$50.40. The stock has a market capitalization of C$11.30 billion, a PE ratio of 15.49, a PEG ratio of 56.20 and a beta of 1.41.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last posted its quarterly earnings results on Thursday, April 30th. The company reported C$1.32 earnings per share (EPS) for the quarter. The firm had revenue of C$740.23 million during the quarter. Eldorado Gold had a return on equity of 13.69% and a net margin of 28.71%. As a group, equities research analysts expect that Eldorado Gold Co. will post 2.1505174 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Per Niklas Frank sold 9,524 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of C$43.02, for a total transaction of C$409,722.48. Following the sale, the insider owned 16,777 shares in the company, valued at C$721,746.54. This represents a 36.21% decrease in their ownership of the stock. Also, insider Frank Hamilton Herbert sold 17,736 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of C$43.17, for a total transaction of C$765,663.12. Following the sale, the insider directly owned 19,621 shares of the company’s stock, valued at C$847,038.57. This trade represents a 47.48% decrease in their position. In the last three months, insiders bought 47,356 shares of company stock valued at $2,091,456 and sold 143,588 shares valued at $6,212,553. 0.58% of the stock is currently owned by corporate insiders.

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.