Eldorado Gold Co. (NYSE:EGO) Short Interest Down 28.4% in April

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 4,360,000 shares, a decrease of 28.4% from the March 31st total of 6,090,000 shares. Based on an average daily volume of 2,160,000 shares, the short-interest ratio is presently 2.0 days. Approximately 2.1% of the shares of the company are sold short.

Eldorado Gold Price Performance

EGO stock opened at $18.66 on Wednesday. Eldorado Gold has a 52 week low of $13.29 and a 52 week high of $20.65. The firm has a market capitalization of $3.83 billion, a P/E ratio of 13.33 and a beta of 0.81. The company has a fifty day simple moving average of $16.53 and a two-hundred day simple moving average of $16.07. 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 posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The business had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $440.43 million. Analysts anticipate that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 23rd. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada increased their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. Finally, Scotiabank raised their price objective on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Eldorado Gold currently has an average rating of “Moderate Buy” and an average target price of $20.38.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. Continuum Advisory LLC grew its stake in Eldorado Gold by 335.3% in the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 1,945 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 682 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Eldorado Gold in the fourth quarter worth $55,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Eldorado Gold during the 4th quarter valued at about $113,000. Finally, Tradition Wealth Management LLC acquired a new stake in shares of Eldorado Gold during the 4th quarter worth approximately $153,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

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.