Eldorado Gold (TSE:ELD) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO)’s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$48.98 and traded as high as C$56.36. Eldorado Gold shares last traded at C$55.24, with a volume of 883,352 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. National Bank Financial upped their price objective on Eldorado Gold from C$65.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Stifel Nicolaus raised their price target on shares of Eldorado Gold from C$65.00 to C$70.00 and gave the company a “buy” rating in a report on Thursday, September 17th. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 9th. Bank of America raised shares of Eldorado Gold from an “underperform” rating to a “buy” rating and lifted their price target for the stock from C$32.00 to C$54.00 in a report on Tuesday, September 22nd. Finally, ATB Cormark Capital Markets raised their price objective on Eldorado Gold from C$45.00 to C$64.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 10th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Eldorado Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of C$61.25.

Eldorado Gold Price Performance

The stock has a 50 day moving average of C$56.06 and a 200-day moving average of C$48.99. The company has a debt-to-equity ratio of 25.70, a quick ratio of 2.27 and a current ratio of 1.31. The company has a market cap of C$13.95 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 56.20 and a beta of 1.69.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.77 earnings per share (EPS) for the quarter. Eldorado Gold had a return on equity of 12.38% and a net margin of 29.89%.The business had revenue of C$692.57 million during the quarter. Equities analysts predict that Eldorado Gold Co. will post 2.1505174 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Seda Erdemir sold 1,239 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$60.37, for a total value of C$74,798.43. Company insiders own 0.58% of the company’s stock.

About Eldorado Gold

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado’s common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).