Eldorado Gold (NYSE:EGO) Hits New 52-Week High - Time to Buy?

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $20.31 and last traded at $20.10, with a volume of 2372932 shares traded. The stock had previously closed at $19.36.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EGO shares. Royal Bank of Canada upped their target price on Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Scotiabank lifted their target price on Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a report on Thursday, April 10th. Finally, National Bank Financial upgraded shares of Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Eldorado Gold has an average rating of "Moderate Buy" and a consensus target price of $20.38.

Eldorado Gold Stock Down 1.7 %

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 business has a 50-day moving average price of $16.05 and a 200-day moving average price of $16.00. The firm has a market cap of $4.01 billion, a P/E ratio of 13.94 and a beta of 0.81.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS 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 the consensus estimate of $440.43 million. On average, equities analysts forecast that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. boosted its position in Eldorado Gold by 26.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 682 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Eldorado Gold during the fourth quarter valued at about $55,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Eldorado Gold in the fourth quarter valued at about $113,000. Tradition Wealth Management LLC bought a new position in Eldorado Gold in the fourth quarter worth about $153,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Eldorado Gold during the fourth quarter valued at about $183,000. Institutional investors own 69.58% of the company's stock.

About Eldorado Gold

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.