Eldorado Gold (NYSE:EGO) Shares Gap Up - What's Next?

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD's stock price gapped up prior to trading on Monday . The stock had previously closed at $19.80, but opened at $20.60. Eldorado Gold shares last traded at $20.23, with a volume of 209,657 shares traded.

Analyst Ratings Changes

EGO has been the topic of several research analyst reports. National Bank Financial upgraded shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday. Royal Bank of Canada raised their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Thursday, April 10th. Finally, Scotiabank raised their price target on Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.38.

Eldorado Gold Price Performance

The firm's 50-day moving average is $16.35 and its 200-day moving average is $16.05. The company has a market capitalization of $3.91 billion, a P/E ratio of 13.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

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

Institutional Investors Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Eldorado Gold by 11.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock worth $4,242,000 after purchasing an additional 25,000 shares during the period. Continuum Advisory LLC increased its stake in Eldorado Gold by 335.3% in the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after buying an additional 1,945 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Eldorado Gold in the 4th quarter worth $6,973,000. PKO Investment Management Joint Stock Co bought a new stake in Eldorado Gold during the fourth quarter valued at about $1,280,000. Finally, Mackenzie Financial Corp lifted its position in shares of Eldorado Gold by 44.9% in the fourth quarter. Mackenzie Financial Corp now owns 747,250 shares of the basic materials company's stock valued at $11,102,000 after acquiring an additional 231,515 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.