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

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD shares reached a new 52-week high on Monday . The stock traded as high as $18.87 and last traded at $18.87, with a volume of 2531 shares. The stock had previously closed at $18.62.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. CIBC boosted their target price on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an "outperformer" rating in a report on Wednesday, July 10th. Scotiabank raised their target price on Eldorado Gold from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Monday, August 19th. Royal Bank of Canada boosted their price target on Eldorado Gold from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Finally, StockNews.com raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Monday, July 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.38.

Eldorado Gold Stock Down 0.6 %

The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $17.38 and a 200 day simple moving average of $16.17. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 32.44 and a beta of 0.95.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The business had revenue of $297.14 million during the quarter. During the same quarter last year, the firm posted $0.09 EPS. As a group, analysts expect that Eldorado Gold Co. will post 1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

Several large investors have recently added to or reduced their stakes in EGO. Blue Trust Inc. raised its stake in shares of Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company's stock worth $33,000 after purchasing an additional 1,336 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Eldorado Gold in the 2nd quarter valued at $74,000. Tobam lifted its stake in Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company's stock valued at $74,000 after acquiring an additional 651 shares in the last quarter. Headlands Technologies LLC purchased a new position in Eldorado Gold during the 2nd quarter worth $97,000. Finally, Net Worth Advisory Group bought a new stake in shares of Eldorado Gold in the 3rd quarter worth $198,000. 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.