Eldorado Gold (NYSE:EGO) Shares Gap Up – What’s Next?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $15.49, but opened at $15.93. Eldorado Gold shares last traded at $15.92, with a volume of 257,137 shares.

Wall Street Analyst Weigh In

EGO has been the topic of a number of analyst reports. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Scotiabank decreased their target price on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Eldorado Gold Trading Up 0.7 %

The firm has a market cap of $3.23 billion, a PE ratio of 11.25 and a beta of 1.11. The stock’s 50 day simple moving average is $14.74 and its 200 day simple moving average is $15.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The company had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $440.43 million. On average, sell-side analysts forecast that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors have recently made changes to their positions in the business. PKO Investment Management Joint Stock Co bought a new stake in Eldorado Gold during the 4th quarter valued at $1,280,000. Mackenzie Financial Corp raised its holdings in Eldorado Gold by 44.9% in the 4th quarter. Mackenzie Financial Corp now owns 747,250 shares of the basic materials company’s stock worth $11,102,000 after purchasing an additional 231,515 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in Eldorado Gold in the 4th quarter worth $504,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Eldorado Gold by 0.7% in 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 purchasing an additional 1,174 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in Eldorado Gold by 5.3% in the 4th quarter. Vident Advisory LLC now owns 54,484 shares of the basic materials company’s stock worth $810,000 after purchasing an additional 2,752 shares in the last quarter. Hedge funds and other 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.