Eldorado Gold (NYSE:EGO) Hits New 1-Year High – Still a Buy?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.82 and last traded at $37.8180, with a volume of 646591 shares trading hands. The stock had previously closed at $36.42.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EGO shares. Bank of America raised their target price on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Monday, December 1st. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. CIBC increased their price objective on shares of Eldorado Gold from $32.00 to $46.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Scotiabank lifted their target price on Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Two equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.20.

Eldorado Gold Stock Up 3.0%

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 stock has a market capitalization of $7.52 billion, a P/E ratio of 20.90, a PEG ratio of 0.18 and a beta of 0.54. The company has a fifty day moving average price of $31.13 and a 200-day moving average price of $26.67.

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

Institutional Trading of Eldorado Gold

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new stake in Eldorado Gold during the second quarter valued at approximately $32,000. Headlands Technologies LLC bought a new stake in Eldorado Gold in the second quarter worth $32,000. Wexford Capital LP purchased a new position in Eldorado Gold during the third quarter worth $37,000. TD Waterhouse Canada Inc. increased its position in Eldorado Gold by 35.4% during the second quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 587 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Eldorado Gold in the 2nd quarter worth about $58,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada?based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced?stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.