Eldorado Gold (NYSE:EGO) Stock Price Up 3.7% - Time to Buy?

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD traded up 3.7% on Thursday . The stock traded as high as $15.20 and last traded at $15.19. 331,584 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,777,741 shares. The stock had previously closed at $14.65.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EGO shares. Scotiabank dropped their price objective on Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating for the company in a research note on Friday, February 7th. StockNews.com raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Eldorado Gold presently has a consensus rating of "Moderate Buy" and an average target price of $20.00.

Eldorado Gold Price Performance

The business has a fifty day moving average price of $14.74 and a 200-day moving average price of $15.98. 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 stock has a market capitalization of $3.13 billion, a PE ratio of 10.90 and a beta of 1.11.

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Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The firm had revenue of $435.70 million during the quarter, compared to analysts' expectations of $440.43 million. Research analysts expect that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds and other institutional investors have recently modified their holdings of EGO. TD Waterhouse Canada Inc. boosted its holdings 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 during the period. CIBC Asset Management Inc boosted its holdings in Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company's stock valued at $3,737,000 after acquiring an additional 804 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Eldorado Gold by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company's stock valued at $2,664,000 after acquiring an additional 1,174 shares during the period. Alliancebernstein L.P. boosted its holdings in Eldorado Gold by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock valued at $496,000 after acquiring an additional 1,500 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in Eldorado Gold during the 3rd quarter valued at about $36,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

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.