Eldorado Gold (NYSE:EGO) Reaches New 1-Year High – Here’s What Happened

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD)’s stock price reached a new 52-week high on Friday . The stock traded as high as $31.93 and last traded at $31.3510, with a volume of 1277 shares trading hands. The stock had previously closed at $31.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. CIBC increased their price target on shares of Eldorado Gold from $32.00 to $46.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Bank of America boosted their price objective on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, October 8th. Finally, National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.20.

Eldorado Gold Price Performance

The company’s 50-day simple moving average is $28.11 and its 200 day simple moving average is $24.36. The company has a quick ratio of 2.28, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 0.39 and a beta of 0.57.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Swiss Life Asset Management Ltd acquired a new position in shares of Eldorado Gold during the 3rd quarter worth about $270,000. Carrhae Capital LLP increased its position in Eldorado Gold by 10.6% in the 3rd quarter. Carrhae Capital LLP now owns 4,994,738 shares of the basic materials company’s stock worth $144,298,000 after buying an additional 480,253 shares during the period. CANADA LIFE ASSURANCE Co increased its position in 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 buying an additional 582 shares during the period. Wexford Capital LP acquired a new position in shares of Eldorado Gold during the third quarter worth approximately $37,000. Finally, Verition Fund Management LLC boosted its position in shares of Eldorado Gold by 14.1% in the third quarter. Verition Fund Management LLC now owns 54,422 shares of the basic materials company’s stock valued at $1,572,000 after acquiring an additional 6,706 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.