Investors Purchase High Volume of Eldorado Gold Call Options (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) was the recipient of some unusual options trading on Friday. Investors purchased 12,889 call options on the company. This represents an increase of approximately 718% compared to the average daily volume of 1,575 call options.

Eldorado Gold Stock Up 2.4 %

Eldorado Gold stock traded up $0.35 during mid-day trading on Friday, reaching $15.08. 2,210,574 shares of the company were exchanged, compared to its average volume of 1,664,808. The business has a fifty day moving average of $12.31 and a 200 day moving average of $11.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.53 and a current ratio of 3.39. The firm has a market cap of $3.06 billion, a P/E ratio of 27.79 and a beta of 1.10. Eldorado Gold has a 12-month low of $8.30 and a 12-month high of $15.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $306.90 million for the quarter. Eldorado Gold had a return on equity of 3.56% and a net margin of 10.54%. Research analysts anticipate that Eldorado Gold will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EGO has been the subject of a number of research reports. CIBC boosted their price target on Eldorado Gold from $16.50 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Stifel Nicolaus reiterated a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. Stifel Canada lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, January 26th. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Wednesday, January 3rd. Finally, TD Securities lowered their price target on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating for the company in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Eldorado Gold currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Hedge Funds Weigh In On Eldorado Gold

Large investors have recently made changes to their positions in the business. Helikon Investments Ltd increased its position in shares of Eldorado Gold by 1.7% in the 3rd quarter. Helikon Investments Ltd now owns 29,438,478 shares of the basic materials company’s stock valued at $262,297,000 after acquiring an additional 501,488 shares during the period. Van ECK Associates Corp increased its position in shares of Eldorado Gold by 3.3% in the 4th quarter. Van ECK Associates Corp now owns 22,145,722 shares of the basic materials company’s stock valued at $287,232,000 after acquiring an additional 699,111 shares during the period. Donald Smith & CO. Inc. increased its position in shares of Eldorado Gold by 20.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 12,708,184 shares of the basic materials company’s stock valued at $164,825,000 after acquiring an additional 2,136,824 shares during the period. BlackRock Inc. increased its position in shares of Eldorado Gold by 1.4% in the 1st quarter. BlackRock Inc. now owns 10,321,583 shares of the basic materials company’s stock valued at $115,706,000 after acquiring an additional 141,298 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Eldorado Gold by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,774,270 shares of the basic materials company’s stock valued at $87,862,000 after acquiring an additional 79,670 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

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.