Eldorado Gold (NYSE:EGO) Reaches New 52-Week High – Here’s What Happened

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $49.12 and last traded at $49.2730, with a volume of 241237 shares. The stock had previously closed at $46.20.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EGO. Scotiabank raised shares of Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday. CIBC upped their price objective on shares of Eldorado Gold from $32.00 to $46.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Wall Street Zen lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Eldorado Gold presently has a consensus rating of “Buy” and an average price target of $31.20.

Eldorado Gold Price Performance

The stock has a 50-day simple moving average of $35.17 and a 200 day simple moving average of $28.69. The company has a market cap of $9.95 billion, a PE ratio of 27.83, a P/E/G ratio of 0.24 and a beta of 0.54. The company has a quick ratio of 2.28, a current ratio of 2.79 and a debt-to-equity ratio of 0.31.

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

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, February 27th.

Institutional Trading of Eldorado Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Eldorado Gold by 50.0% during the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after buying an additional 266,048 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Eldorado Gold by 8.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 82,847 shares of the basic materials company’s stock worth $1,683,000 after acquiring an additional 6,475 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Eldorado Gold by 10.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,300 shares of the basic materials company’s stock valued at $5,669,000 after acquiring an additional 26,000 shares during the period. TD Asset Management Inc grew its position in Eldorado Gold by 4.6% in the 2nd quarter. TD Asset Management Inc now owns 605,415 shares of the basic materials company’s stock valued at $12,299,000 after acquiring an additional 26,838 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Eldorado Gold in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.