Eldorado Gold (NYSE:EGO) Reaches New 52-Week High at $16.07

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) hit a new 52-week high during trading on Friday . The stock traded as high as $16.07 and last traded at $15.28, with a volume of 697136 shares traded. The stock had previously closed at $14.78.

Wall Street Analyst Weigh In

EGO has been the topic of a number of research reports. TD Securities dropped their target price on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. CIBC raised their target price on Eldorado Gold from $16.50 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Eldorado Gold in a research report on Friday, January 26th. Finally, Stifel Canada lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and a consensus target price of $13.30.

Eldorado Gold Stock Up 3.0 %

The stock’s 50-day simple moving average is $13.22 and its 200-day simple moving average is $12.27. The company has a current ratio of 3.39, a quick ratio of 2.53 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $3.11 billion, a P/E ratio of 28.87, a P/E/G ratio of 6.40 and a beta of 1.10.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Eldorado Gold had a net margin of 10.54% and a return on equity of 3.56%. The company had revenue of $306.90 million for the quarter. As a group, research analysts predict that Eldorado Gold Co. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds and other institutional investors have recently modified their holdings of EGO. Bank of New York Mellon Corp grew its position in shares of Eldorado Gold by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 70,132 shares of the basic materials company’s stock worth $625,000 after buying an additional 1,630 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Eldorado Gold by 350.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 684,570 shares of the basic materials company’s stock worth $6,108,000 after acquiring an additional 532,453 shares during the last quarter. TD Asset Management Inc raised its position in Eldorado Gold by 4.8% during the third quarter. TD Asset Management Inc now owns 529,163 shares of the basic materials company’s stock valued at $4,744,000 after purchasing an additional 24,061 shares during the period. CIBC Asset Management Inc raised its position in Eldorado Gold by 13.0% in the 3rd quarter. CIBC Asset Management Inc now owns 193,188 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 22,292 shares during the period. Finally, Helikon Investments Ltd increased its stake in Eldorado Gold by 1.7% in the 3rd quarter. Helikon Investments Ltd now owns 29,438,478 shares of the basic materials company’s stock worth $262,297,000 after buying an additional 501,488 shares during the period. 69.58% of the stock is currently owned by hedge funds and other 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.