Eldorado Gold Corp. (EGO) Sees Unusually-High Trading Volume
Eldorado Gold Corp. (NYSE:EGO) saw an uptick in trading volume on Friday . 6,063,958 shares changed hands during trading, an increase of 9% from the previous session’s volume of 5,561,733 shares.The stock last traded at $3.60 and had previously closed at $3.57.
A number of brokerages recently weighed in on EGO. Canaccord Genuity raised Eldorado Gold Corp. from a “hold” rating to a “buy” rating and raised their price objective for the company from $5.75 to $7.00 in a report on Monday, May 9th. Bank of America Corp. reissued a “sell” rating on shares of Eldorado Gold Corp. in a report on Monday, May 16th. Raymond James Financial Inc. raised Eldorado Gold Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $6.00 price objective (up from $4.00) on shares of Eldorado Gold Corp. in a report on Tuesday, May 10th. Finally, Zacks Investment Research cut Eldorado Gold Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $4.98.
The firm has a 50 day moving average price of $4.31 and a 200 day moving average price of $3.93. The firm’s market cap is $2.55 billion.
Eldorado Gold Corp. (NYSE:EGO) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. During the same period last year, the company earned $0.02 EPS. The business earned $107 million during the quarter, compared to the consensus estimate of $190.99 million. The business’s revenue was down 14.0% on a year-over-year basis. Equities research analysts anticipate that Eldorado Gold Corp. will post $0.07 earnings per share for the current year.
An institutional investor recently raised its position in Eldorado Gold Corp. stock. I.G. Investment Management LTD. raised its position in Eldorado Gold Corp. (NYSE:EGO) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,974,460 shares of the company’s stock after buying an additional 13,200 shares during the period. I.G. Investment Management LTD. owned approximately 0.56% of Eldorado Gold Corp. worth $11,783,000 as of its most recent SEC filing.
Eldorado Gold Corporation (Eldorado) owns and operates mines around the world, primarily gold mines but also a silver-lead-zinc mine. The Company’s activities involve all facets of the mining industry, including exploration, discovery, acquisition, financing, development, production and reclamation. Its business is focused in Brazil, China, Greece, Turkey and Romania.