Eldorado Gold (NYSE:EGO) Reaches New 52-Week High – Should You Buy?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) hit a new 52-week high on Friday . The company traded as high as $31.93 and last traded at $31.3510, with a volume of 1277 shares trading hands. The stock had previously closed at $31.29.

Wall Street Analysts Forecast Growth

EGO has been the subject of several research analyst reports. Scotiabank upped their price objective on shares of Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Canaccord Genuity Group upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Bank of America raised their price objective on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Monday. Finally, Wall Street Zen downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.20.

Eldorado Gold Trading Up 1.4%

The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 0.39 and a beta of 0.57. The company has a quick ratio of 2.28, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $28.11 and its 200 day moving average is $24.36.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.08). The company had revenue of $436.44 million during the quarter, compared to the consensus estimate of $422.25 million. Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. Equities analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Institutional Trading of Eldorado Gold

Several institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC lifted its stake in Eldorado Gold by 645.2% during the first quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company’s stock valued at $2,821,000 after buying an additional 145,202 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Eldorado Gold during the first quarter valued at approximately $207,000. Vanguard Group Inc. raised its holdings in shares of Eldorado Gold by 1.9% during the first quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company’s stock valued at $134,984,000 after acquiring an additional 148,567 shares during the period. Deutsche Bank AG lifted its position in shares of Eldorado Gold by 85.2% in the 1st quarter. Deutsche Bank AG now owns 870,357 shares of the basic materials company’s stock valued at $14,639,000 after acquiring an additional 400,477 shares in the last quarter. Finally, LaSalle St. Investment Advisors LLC boosted its stake in Eldorado Gold by 7.0% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 1,275 shares during the period. Institutional investors and hedge funds 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.