Eldorado Gold (NYSE:EGO) Sees Large Volume Increase – Here’s What Happened

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) saw unusually-strong trading volume on Tuesday . Approximately 1,275,296 shares changed hands during trading, a decline of 1% from the previous session’s volume of 1,282,161 shares.The stock last traded at $14.76 and had previously closed at $14.51.

Wall Street Analysts Forecast Growth

EGO has been the subject of a number of recent research reports. TD Securities reduced their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Scotiabank reduced their price target on Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eldorado Gold currently has a consensus rating of “Hold” and an average target price of $20.50.

Eldorado Gold Stock Up 0.2 %

The company’s fifty day simple moving average is $15.61 and its 200-day simple moving average is $16.54. The firm has a market capitalization of $3.07 billion, a PE ratio of 11.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The firm had revenue of $331.76 million during the quarter. During the same period in the previous year, the business earned $0.17 EPS. On average, analysts forecast that Eldorado Gold Co. will post 1.49 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in Eldorado Gold by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock worth $68,149,000 after purchasing an additional 136,900 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Eldorado Gold by 30.8% during the second quarter. XTX Topco Ltd now owns 16,450 shares of the basic materials company’s stock valued at $243,000 after buying an additional 3,876 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Eldorado Gold by 6,023.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 18,186 shares of the basic materials company’s stock valued at $269,000 after acquiring an additional 17,889 shares during the period. Point72 DIFC Ltd purchased a new position in Eldorado Gold in the 2nd quarter worth $74,000. Finally, Squarepoint Ops LLC acquired a new stake in Eldorado Gold during the 2nd quarter worth about $1,002,000. Institutional investors and hedge funds 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.