Eldorado Gold (NYSE:EGO) Sees Large Volume Increase - What's Next?

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD saw unusually-strong trading volume on Wednesday . Approximately 550,165 shares were traded during trading, a decline of 37% from the previous session's volume of 869,858 shares.The stock last traded at $15.13 and had previously closed at $15.60.

Wall Street Analysts Forecast Growth

EGO has been the subject of several recent analyst reports. TD Securities cut their target price on Eldorado Gold from $20.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, November 4th. StockNews.com downgraded Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.88.

Eldorado Gold Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 10.82 and a beta of 0.94. The stock has a 50 day moving average price of $15.65 and a two-hundred day moving average price of $16.55.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million during the quarter. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, analysts expect that Eldorado Gold Co. will post 1.44 EPS for the current year.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perpetual Ltd acquired a new stake in Eldorado Gold in the 4th quarter valued at about $425,000. JPMorgan Chase & Co. increased its stake in shares of Eldorado Gold by 130.7% during the third quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company's stock worth $2,607,000 after buying an additional 85,053 shares during the period. Tidal Investments LLC raised its holdings in Eldorado Gold by 1.8% in the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company's stock valued at $15,783,000 after acquiring an additional 15,652 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Eldorado Gold by 331.4% in the third quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company's stock worth $2,295,000 after acquiring an additional 106,438 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Eldorado Gold by 84.9% during the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company's stock worth $322,000 after acquiring an additional 8,512 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company's stock.

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.