Eldorado Gold (NYSE:EGO) Shares Gap Down – Should You Sell?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price gapped down before the market opened on Monday . The stock had previously closed at $16.65, but opened at $15.98. Eldorado Gold shares last traded at $15.96, with a volume of 472,051 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Scotiabank raised their target price on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. TD Securities decreased their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, November 4th. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised their target price on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.88.

Eldorado Gold Trading Down 1.2 %

The firm has a fifty day moving average of $17.27 and a two-hundred day moving average of $16.42. The company has a market cap of $3.15 billion, a PE ratio of 11.47 and a beta of 0.95. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS 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 business had revenue of $331.76 million during the quarter. During the same quarter in the prior year, the business earned $0.17 EPS. As a group, sell-side analysts predict that Eldorado Gold Co. will post 1.41 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EGO. Tobam boosted its position in shares of 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 during the last quarter. Blue Trust Inc. boosted its position in shares of Eldorado Gold by 232.8% during the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,336 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Eldorado Gold during the 3rd quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Eldorado Gold by 4.2% during 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 in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Eldorado Gold during the 3rd quarter valued at about $36,000. 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.