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

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) gapped up prior to trading 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 traded.

Analysts Set New Price Targets

EGO has been the subject of several research reports. Scotiabank decreased their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a research note on Friday, February 7th. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Eldorado Gold Stock Performance

The business’s fifty day moving average price is $14.74 and its 200-day moving average price 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. The stock has a market cap of $3.23 billion, a PE ratio of 11.25 and a beta of 1.11.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results 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. The firm had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, equities research analysts forecast that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently made changes to their positions in EGO. Banque Cantonale Vaudoise purchased a new position in shares of Eldorado Gold in the third quarter worth approximately $36,000. Jennison Associates LLC raised its stake in Eldorado Gold by 65.0% during the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after acquiring an additional 2,376,241 shares during the period. Navellier & Associates Inc. bought a new stake in Eldorado Gold during the 3rd quarter worth approximately $878,000. Independent Advisor Alliance bought a new stake in Eldorado Gold during the 3rd quarter worth approximately $544,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Eldorado Gold by 55.9% during the third quarter. The Manufacturers Life Insurance Company now owns 264,111 shares of the basic materials company’s stock valued at $4,592,000 after buying an additional 94,676 shares during the last quarter. Hedge funds and other institutional investors 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.