Eldorado Gold (NYSE:EGO) Trading 3.4% Higher – Still a Buy?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) rose 3.4% on Wednesday . The stock traded as high as $15.92 and last traded at $15.90. Approximately 295,793 shares were traded during trading, a decline of 52% from the average daily volume of 617,815 shares. The stock had previously closed at $15.37.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped their target price on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. TD Securities dropped their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.88.

Eldorado Gold Price Performance

The stock has a market cap of $3.26 billion, a PE ratio of 11.88 and a beta of 0.94. The business’s 50-day simple moving average is $15.88 and its 200-day simple 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) (TSE:ELD) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the company earned $0.17 EPS. On average, research analysts expect that Eldorado Gold Co. will post 1.42 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

Several hedge funds have recently made changes to their positions in EGO. Jennison Associates LLC grew its stake in Eldorado Gold by 65.0% in the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after acquiring an additional 2,376,241 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Eldorado Gold by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock valued at $68,149,000 after buying an additional 136,900 shares during the last quarter. Equinox Partners Investment Management LLC grew its stake in shares of Eldorado Gold by 32.0% during the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after purchasing an additional 239,800 shares during the period. Tidal Investments LLC raised its position in shares of Eldorado Gold by 1.8% in the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock worth $15,783,000 after acquiring an additional 15,652 shares during the period. Finally, National Bank of Canada FI grew its stake in Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after acquiring an additional 118,760 shares during the period. 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.