Eldorado Gold (NYSE:EGO) Hits New 12-Month High – Here’s What Happened

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) hit a new 52-week high during trading on Thursday . The company traded as high as $21.98 and last traded at $21.38, with a volume of 8888 shares traded. The stock had previously closed at $21.03.

Wall Street Analyst Weigh In

A number of research firms recently commented on EGO. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Canaccord Genuity Group dropped their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Scotiabank increased their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. Royal Bank of Canada lifted their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Finally, National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Eldorado Gold presently has a consensus rating of “Moderate Buy” and an average target price of $21.70.

Eldorado Gold Stock Performance

The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 15.31 and a beta of 0.47. The stock’s 50-day moving average is $19.43 and its 200-day moving average is $16.73.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The company had revenue of $341.59 million for the quarter, compared to analyst estimates of $319.83 million. On average, analysts predict that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Several large investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. increased its stake in shares of Eldorado Gold by 3.2% in the first quarter. Donald Smith & CO. Inc. now owns 12,492,756 shares of the basic materials company’s stock valued at $210,128,000 after buying an additional 391,776 shares during the period. L1 Capital Pty Ltd increased its position in Eldorado Gold by 22.7% in the 1st quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company’s stock valued at $147,580,000 after acquiring an additional 1,621,173 shares during the period. Vanguard Group Inc. raised its stake in shares of Eldorado Gold by 1.9% during the first quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company’s stock valued at $134,984,000 after acquiring an additional 148,567 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Eldorado Gold by 2.2% during the first quarter. Jennison Associates LLC now owns 7,245,804 shares of the basic materials company’s stock valued at $121,874,000 after acquiring an additional 155,619 shares during the last quarter. Finally, Carrhae Capital LLP lifted its holdings in shares of Eldorado Gold by 10.7% during the first quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company’s stock worth $112,514,000 after purchasing an additional 648,574 shares during the period. 69.58% of the stock is currently owned by 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.