Eldorado Gold (NYSE:EGO) Trading Up 4.8%

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) were up 4.8% on Wednesday . The company traded as high as $15.53 and last traded at $15.53. 112,974 shares were traded during trading, a decline of 93% from the average daily volume of 1,572,854 shares. The stock had previously closed at $14.82.

Wall Street Analysts Forecast Growth

EGO has been the subject of a number of research reports. Scotiabank upped their price target on shares of Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $14.00 to $20.00 in a research report on Wednesday, May 29th. Finally, National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.60.

Eldorado Gold Price Performance

The company has a market cap of $3.21 billion, a P/E ratio of 27.37, a P/E/G ratio of 0.27 and a beta of 0.92. The company’s 50-day moving average price is $15.20 and its two-hundred day moving average price is $13.65. The company has a current ratio of 3.50, a quick ratio of 2.52 and a debt-to-equity ratio of 0.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Friday, April 26th. The basic materials company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.15 by $0.12. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. The company had revenue of $257.97 million during the quarter. During the same quarter in the previous year, the business posted $0.11 EPS. As a group, sell-side analysts expect that Eldorado Gold Co. will post 1.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia grew its position in shares of Eldorado Gold by 10.2% during the third quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 1,343 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in shares of Eldorado Gold during the fourth quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Eldorado Gold during the fourth quarter worth approximately $37,000. TD Asset Management Inc grew its holdings in Eldorado Gold by 0.8% in the 4th quarter. TD Asset Management Inc now owns 533,641 shares of the basic materials company’s stock worth $6,961,000 after buying an additional 4,478 shares in the last quarter. Finally, Tobam bought a new stake in Eldorado Gold during the 4th quarter valued at $68,000. 69.58% of the stock is currently owned by 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.