Eldorado Gold (NYSE:EGO) Trading 4.5% Higher – Still a Buy?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) rose 4.5% on Thursday . The company traded as high as $17.97 and last traded at $17.87. Approximately 891,227 shares traded hands during trading, a decline of 55% from the average daily volume of 1,980,375 shares. The stock had previously closed at $17.09.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EGO shares. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Scotiabank dropped their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday, February 7th. Royal Bank of Canada increased their target price on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

Eldorado Gold Price Performance

The stock has a market capitalization of $3.96 billion, a P/E ratio of 13.79 and a beta of 0.81. 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 company has a fifty day simple moving average of $15.33 and a two-hundred day simple moving average of $15.90.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 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 business had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $440.43 million. Sell-side analysts expect that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

A number of hedge funds have recently modified their holdings of the company. Jennison Associates LLC raised its holdings in Eldorado Gold by 17.5% in the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock worth $105,431,000 after purchasing an additional 1,058,137 shares during the period. JPMorgan Chase & Co. increased its position in shares of Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after buying an additional 85,053 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Eldorado Gold during the fourth quarter worth about $55,000. Barclays PLC lifted its holdings in Eldorado Gold by 18.6% during the third quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock worth $3,064,000 after acquiring an additional 27,667 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Eldorado Gold by 0.6% in the fourth quarter. Swiss National Bank now owns 403,620 shares of the basic materials company’s stock worth $6,000,000 after acquiring an additional 2,500 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.