Eldorado Gold (NYSE:EGO) Trading Up 3.4% - Time to Buy?

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD shares traded up 3.4% during mid-day trading on Wednesday . The stock traded as high as $15.92 and last traded at $15.90. 295,793 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 617,815 shares. The stock had previously closed at $15.37.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. StockNews.com lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Finally, TD Securities reduced their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.88.

Eldorado Gold Price Performance

The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 11.98 and a beta of 0.94. The company's fifty day moving average is $15.84 and its 200 day moving average is $16.54. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The company had revenue of $331.76 million during the quarter. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, equities research analysts predict that Eldorado Gold Co. will post 1.42 EPS for the current year.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently made changes to their positions in EGO. JPMorgan Chase & Co. increased its holdings in 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 last quarter. Tidal Investments LLC increased its stake in shares of Eldorado Gold by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company's stock worth $15,783,000 after purchasing an additional 15,652 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Eldorado Gold by 331.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company's stock valued at $2,295,000 after purchasing an additional 106,438 shares during the period. Toronto Dominion Bank grew its holdings in Eldorado Gold by 84.9% during the third quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company's stock worth $322,000 after purchasing an additional 8,512 shares during the period. Finally, Geode Capital Management LLC increased its position in Eldorado Gold by 7.4% during the third quarter. Geode Capital Management LLC now owns 95,911 shares of the basic materials company's stock worth $1,675,000 after buying an additional 6,629 shares during the last quarter. 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.