Eldorado Gold (NYSE:EGO) Reaches New 12-Month High – Still a Buy?

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) reached a new 52-week high during trading on Monday . The company traded as high as $37.48 and last traded at $37.3770, with a volume of 131771 shares traded. The stock had previously closed at $35.53.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EGO shares. Scotiabank raised their price target on Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Wall Street Zen downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Canaccord Genuity Group upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.20.

Eldorado Gold Trading Up 4.4%

The company has a current ratio of 2.79, a quick ratio of 2.28 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $29.19 and its two-hundred day moving average price is $25.48. The stock has a market capitalization of $7.44 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 0.45 and a beta of 0.57.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). The company had revenue of $436.44 million during the quarter, compared to the consensus estimate of $422.25 million. Eldorado Gold had a return on equity of 8.89% and a net margin of 22.15%. Equities research analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Institutional Trading of Eldorado Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGO. Nuveen LLC purchased a new stake in shares of Eldorado Gold during the 1st quarter worth $2,936,000. HighTower Advisors LLC boosted its position in Eldorado Gold by 72.3% in the 1st quarter. HighTower Advisors LLC now owns 53,400 shares of the basic materials company’s stock worth $898,000 after purchasing an additional 22,413 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Eldorado Gold by 5.4% in the 1st quarter. Russell Investments Group Ltd. now owns 30,732 shares of the basic materials company’s stock worth $517,000 after purchasing an additional 1,580 shares during the period. American Century Companies Inc. increased its stake in shares of Eldorado Gold by 2.0% during the first quarter. American Century Companies Inc. now owns 1,057,607 shares of the basic materials company’s stock worth $17,780,000 after purchasing an additional 20,232 shares in the last quarter. Finally, Credit Agricole S A boosted its stake in Eldorado Gold by 118.9% during the 1st quarter. Credit Agricole S A now owns 129,850 shares of the basic materials company’s stock worth $2,184,000 after purchasing an additional 70,518 shares during the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.