Eldorado Gold (NYSE:EGO) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD)’s share price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $36.68 and traded as high as $37.87. Eldorado Gold shares last traded at $37.3920, with a volume of 1,870,271 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on EGO. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Wall Street Zen lowered shares of Eldorado Gold from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Weiss Ratings cut shares of Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Finally, Jefferies Financial Group assumed coverage on shares of Eldorado Gold in a report on Thursday, August 20th. They set a “buy” rating and a $50.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Eldorado Gold presently has an average rating of “Moderate Buy” and an average target price of $46.57.

Eldorado Gold Stock Performance

The company has a market capitalization of $8.76 billion, a P/E ratio of 11.16, a PEG ratio of 0.39 and a beta of 0.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.42 and a quick ratio of 0.84. The company has a fifty day moving average price of $37.89 and a two-hundred day moving average price of $36.57.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. The business had revenue of $511.90 million during the quarter, compared to the consensus estimate of $621.90 million. Equities analysts forecast that Eldorado Gold Corporation will post 2.56 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.0750 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. Eldorado Gold’s dividend payout ratio (DPR) is presently 10.00%.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. raised its position in Eldorado Gold by 1.7% during the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 193,855 shares of the basic materials company’s stock worth $7,490,000 after purchasing an additional 3,330 shares during the last quarter. Heartland Advisors Inc. grew its position in shares of Eldorado Gold by 2.2% in the 3rd quarter. Heartland Advisors Inc. now owns 724,850 shares of the basic materials company’s stock valued at $27,899,000 after buying an additional 15,300 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Eldorado Gold by 11.4% in the third quarter. Public Sector Pension Investment Board now owns 98,859 shares of the basic materials company’s stock valued at $3,653,000 after buying an additional 10,100 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Eldorado Gold in the third quarter valued at about $284,000. Finally, Cibc World Market Inc. increased its stake in shares of Eldorado Gold by 9.7% in the third quarter. Cibc World Market Inc. now owns 330,436 shares of the basic materials company’s stock valued at $12,727,000 after buying an additional 29,147 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company headquartered in Vancouver, British Columbia. It explores for, develops and operates mineral properties, with gold as its primary product and silver and base metals also produced at some of its mines. The company’s portfolio spans Canada, Greece and Turkey. Its operations include the Lamaque Complex in Quebec, the Kisladag and Efemcukuru mines in Turkey, and the Olympias mine in Greece. Eldorado is also developing the Skouries copper-gold project in Greece.