Eldorado Gold (NYSE:EGO) Shares Up 5.1% – What’s Next?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) shares rose 5.1% during trading on Tuesday . The stock traded as high as $16.58 and last traded at $16.52. Approximately 338,754 shares traded hands during trading, a decline of 76% from the average daily volume of 1,413,961 shares. The stock had previously closed at $15.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EGO shares. Scotiabank reduced their price target on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Finally, National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Eldorado Gold Stock Performance

The company has a market cap of $3.40 billion, a price-to-earnings ratio of 11.86 and a beta of 1.11. The firm has a 50-day simple moving average of $14.74 and a 200 day simple moving average of $15.92. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

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

Institutional Investors Weigh In On Eldorado Gold

Hedge funds have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. increased its holdings in shares of Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 682 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock valued at $3,737,000 after acquiring an additional 804 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Eldorado Gold by 0.7% during 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 acquiring an additional 1,174 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Eldorado Gold by 4.7% in the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock worth $496,000 after acquiring an additional 1,500 shares during the period. Finally, Swiss National Bank increased its stake in Eldorado Gold by 0.6% in the 4th quarter. Swiss National Bank now owns 403,620 shares of the basic materials company’s stock valued at $6,000,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds 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.