Insider Buying: Eldorado Gold (TSE:ELD) Director Purchases 21,000 Shares of Stock

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO) Director George Raymond Burns purchased 21,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of C$47.34 per share, for a total transaction of C$994,140.00. Following the completion of the transaction, the director directly owned 517,356 shares of the company’s stock, valued at approximately C$24,491,633.04. This trade represents a 4.23% increase in their position.

George Raymond Burns also recently made the following trade(s):

• On Wednesday, May 6th, George Raymond Burns sold 6,249 shares of Eldorado Gold stock. The stock was sold at an average price of C$43.17, for a total transaction of C$269,769.33.
• On Wednesday, May 6th, George Raymond Burns sold 61,327 shares of Eldorado Gold stock. The stock was sold at an average price of C$43.17, for a total transaction of C$2,647,486.59.

Eldorado Gold Stock Performance

ELD traded up C$1.65 during trading on Tuesday, hitting C$48.70. The company’s stock had a trading volume of 1,076,279 shares, compared to its average volume of 802,806. The company has a quick ratio of 2.28, a current ratio of 1.62 and a debt-to-equity ratio of 28.81. Eldorado Gold Co. has a one year low of C$23.99 and a one year high of C$69.46. The firm has a market cap of C$12.82 billion, a PE ratio of 17.39, a P/E/G ratio of 56.20 and a beta of 1.62. The business’s 50 day simple moving average is C$48.38 and its 200-day simple moving average is C$49.30.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last released its quarterly earnings data on Thursday, April 30th. The company reported C$0.95 earnings per share 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, sell-side analysts predict that Eldorado Gold Co. will post 2.1505174 EPS for the current fiscal year.

Eldorado Gold News Roundup

Here are the key news stories impacting Eldorado Gold this week:

• Positive Sentiment: Director Daniel Myerson bought 332 shares, increasing his stake by 13.28%, which can be viewed as a vote of confidence in Eldorado Gold’s outlook.
• Neutral Sentiment: The company also reported regular insider trading activity around the same period, including several buys and sells, which may reflect portfolio management rather than a major change in fundamentals.
• Negative Sentiment: Multiple insiders and directors sold shares, including larger disposals by George Raymond Burns, Paul Anthony Ferneyhough, Frank Hamilton Herbert, Simon Oswald Hille, and Sylvain Lehoux, which may weigh on sentiment because investors often interpret broad insider selling as cautionary.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ELD shares. National Bank Financial boosted their price objective on Eldorado Gold from C$63.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Scotiabank upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Bank of America boosted their target price on Eldorado Gold from C$46.25 to C$52.00 in a research report on Thursday, February 26th. ATB Cormark Capital Markets lowered Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets set a C$82.00 target price on Eldorado Gold and gave the company an “outperform” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$63.50.

About Eldorado Gold

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.