Eldorado Gold (NYSE:EGO) Shares Gap Up - Time to Buy?

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD's share price gapped up before the market opened on Tuesday . The stock had previously closed at $15.49, but opened at $15.93. Eldorado Gold shares last traded at $15.92, with a volume of 257,137 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EGO shares. StockNews.com upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, February 28th. Scotiabank cut their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Eldorado Gold presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Eldorado Gold Price Performance

The company has a market cap of $3.20 billion, a price-to-earnings ratio of 11.16 and a beta of 1.11. The company's 50 day moving average price is $14.73 and its 200 day moving average price is $15.92. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Remove Ads

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. Equities research analysts forecast that Eldorado Gold Co. will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new position in shares of Eldorado Gold in the third quarter valued at approximately $36,000. Navellier & Associates Inc. bought a new position in Eldorado Gold during the 3rd quarter worth approximately $878,000. Independent Advisor Alliance acquired a new stake in Eldorado Gold during the 3rd quarter worth approximately $544,000. The Manufacturers Life Insurance Company grew its holdings in shares of Eldorado Gold by 55.9% during the third quarter. The Manufacturers Life Insurance Company now owns 264,111 shares of the basic materials company's stock worth $4,592,000 after buying an additional 94,676 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Eldorado Gold by 130.5% in the third quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company's stock valued at $2,885,000 after acquiring an additional 94,040 shares during the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

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.