Eldorado Gold (TSE:ELD) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$50.44 and traded as low as C$45.19. Eldorado Gold shares last traded at C$45.41, with a volume of 946,421 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ELD shares. BMO Capital Markets set a C$82.00 target price on Eldorado Gold and gave the company an “outperform” rating in a report on Wednesday, April 15th. National Bank Financial boosted their price target on Eldorado Gold from C$63.00 to C$70.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, TD lowered their price objective on shares of Eldorado Gold from C$45.00 to C$40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$63.50.

Eldorado Gold Stock Down 4.4%

The company has a quick ratio of 2.27, a current ratio of 1.62 and a debt-to-equity ratio of 28.81. The company has a fifty day simple moving average of C$44.50 and a 200-day simple moving average of C$50.44. The firm has a market cap of C$11.83 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 56.20 and a beta of 1.41.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$1.32 EPS for the quarter. Eldorado Gold had a return on equity of 13.69% and a net margin of 28.71%.The firm had revenue of C$740.23 million for the quarter. On average, equities analysts anticipate that Eldorado Gold Co. will post 2.1505174 earnings per share for the current year.

Insider Activity at Eldorado Gold

In other news, Director Stephen David Walker purchased 600 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of C$48.40 per share, for a total transaction of C$29,040.00. Following the completion of the transaction, the director directly owned 600 shares in the company, valued at C$29,040. This trade represents a ∞ increase in their position. Also, insider Mehmet Yilmaz sold 5,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of C$44.42, for a total transaction of C$222,100.00. Following the completion of the sale, the insider directly owned 27,543 shares of the company’s stock, valued at approximately C$1,223,460.06. This trade represents a 15.36% decrease in their ownership of the stock. In the last 90 days, insiders have purchased 47,356 shares of company stock worth $2,091,456 and have sold 143,588 shares worth $6,212,553. 0.58% of the stock is currently owned by insiders.

Eldorado Gold Company Profile

Eldorado Gold Corp is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece and Romania. It has a portfolio of high-quality assets and long-term partnerships with local communities. Some of its projects include Kisladag, Efemcukuru, Skouries; Perama Hill and Certej projects.