Eldorado Gold (NYSE:EGO) Reaches New 52-Week High – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EGO. 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 research report on Tuesday, September 10th. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. CIBC lifted their target price on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Scotiabank boosted their target price on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold has a consensus rating of “Hold” and a consensus target price of $19.38.

Eldorado Gold Price Performance

The firm has a market cap of $3.86 billion, a P/E ratio of 32.67 and a beta of 0.95. The stock’s 50-day moving average is $17.38 and its 200-day moving average is $16.16. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The company had revenue of $297.14 million for the quarter. During the same quarter in the previous year, the firm posted $0.09 EPS. As a group, equities analysts anticipate that Eldorado Gold Co. will post 1.41 EPS for the current fiscal year.

Institutional Trading of Eldorado Gold

A number of hedge funds have recently modified their holdings of the company. Tobam raised its stake in shares of Eldorado Gold by 14.8% in the second quarter. Tobam now owns 5,036 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 651 shares in the last quarter. Blue Trust Inc. increased its holdings in Eldorado Gold by 232.8% in the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after buying an additional 1,336 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Eldorado Gold by 4.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company’s stock valued at $679,000 after buying an additional 1,858 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Eldorado Gold by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock valued at $2,499,000 after buying an additional 2,472 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Eldorado Gold by 30.8% during the 2nd quarter. XTX Topco Ltd now owns 16,450 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 3,876 shares during the period. Institutional investors own 69.58% of the company’s stock.

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.