Eldorado Gold (NYSE:EGO) Shares Up 5.1% – Here’s Why

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) shares shot up 5.1% during mid-day trading on Tuesday . The company traded as high as $16.58 and last traded at $16.52. 338,754 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,413,961 shares. The stock had previously closed at $15.71.

Analyst Ratings Changes

EGO has been the topic of several analyst reports. Scotiabank reduced their price target on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Finally, National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Eldorado Gold Trading Up 5.6 %

The company has a market cap of $3.40 billion, a PE ratio of 11.86 and a beta of 1.11. The company’s 50 day simple moving average is $14.74 and its two-hundred day simple moving average is $15.92. 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, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The firm had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, sell-side analysts anticipate that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently modified their holdings of EGO. Wellington Management Group LLP acquired a new position in Eldorado Gold in the 4th quarter valued at about $6,973,000. PKO Investment Management Joint Stock Co purchased a new position in shares of Eldorado Gold in the fourth quarter valued at approximately $1,280,000. Mackenzie Financial Corp grew its holdings in shares of Eldorado Gold by 44.9% in the fourth quarter. Mackenzie Financial Corp now owns 747,250 shares of the basic materials company’s stock valued at $11,102,000 after purchasing an additional 231,515 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new stake in Eldorado Gold during the 4th quarter worth approximately $504,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Eldorado Gold by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company’s stock worth $2,664,000 after buying an additional 1,174 shares in the last quarter. Hedge funds and other institutional investors 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.