Eldorado Gold (NYSE:EGO) Share Price Crosses Above 200-Day Moving Average of $14.81

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.81 and traded as high as $17.74. Eldorado Gold shares last traded at $17.74, with a volume of 731,557 shares.

Analyst Upgrades and Downgrades

EGO has been the topic of several recent research reports. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Royal Bank of Canada upgraded Eldorado Gold from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $14.00 to $20.00 in a research report on Wednesday, May 29th. CIBC boosted their price target on Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Scotiabank raised their price objective on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Eldorado Gold currently has a consensus rating of “Hold” and a consensus target price of $18.88.

Eldorado Gold Price Performance

The stock has a market cap of $3.54 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 0.25 and a beta of 0.91. The business has a 50-day simple moving average of $16.41 and a 200 day simple moving average of $14.85. The company has a current ratio of 3.62, a quick ratio of 2.65 and a debt-to-equity ratio of 0.20.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, July 25th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. The business had revenue of $297.14 million for the quarter. During the same quarter in the previous year, the company earned $0.09 earnings per share. On average, analysts forecast that Eldorado Gold Co. will post 1.32 earnings per share for the current year.

Institutional Trading of Eldorado Gold

A number of institutional investors have recently bought and sold shares of EGO. International Assets Investment Management LLC bought a new stake in Eldorado Gold in the 4th quarter valued at about $1,970,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Eldorado Gold by 42.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,122 shares of the basic materials company’s stock worth $576,000 after acquiring an additional 13,151 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at about $151,000. National Bank of Canada FI lifted its position in shares of Eldorado Gold by 4.8% during the fourth quarter. National Bank of Canada FI now owns 533,231 shares of the basic materials company’s stock valued at $6,728,000 after purchasing an additional 24,410 shares in the last quarter. Finally, Sheets Smith Wealth Management purchased a new position in Eldorado Gold during the fourth quarter worth about $414,000. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

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.