Eldorado Gold (NYSE:EGO) Sets New 52-Week High – Here’s Why

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD)’s stock price reached a new 52-week high on Monday . The company traded as high as $49.12 and last traded at $49.2730, with a volume of 241237 shares. The stock had previously closed at $46.20.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EGO shares. Scotiabank upgraded Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Wall Street Zen cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, CIBC lifted their price objective on shares of Eldorado Gold from $32.00 to $46.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $31.20.

Eldorado Gold Stock Up 8.4%

The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 0.24 and a beta of 0.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.28. The business has a fifty day moving average price of $35.17 and a two-hundred day moving average price of $28.69.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, October 30th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. The firm had revenue of $436.44 million during the quarter, compared to analysts’ expectations of $422.25 million. On average, equities analysts expect that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors have recently modified their holdings of the stock. Burney Co. purchased a new stake in shares of Eldorado Gold in the fourth quarter worth about $2,506,000. TT International Asset Management LTD raised its position in shares of Eldorado Gold by 1,730.9% in the fourth quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock worth $26,916,000 after acquiring an additional 710,290 shares during the period. Capital Advisory Group Advisory Services LLC acquired a new stake in Eldorado Gold in the fourth quarter valued at approximately $210,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its holdings in Eldorado Gold by 67.5% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 33,500 shares of the basic materials company’s stock worth $1,210,000 after acquiring an additional 13,500 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Eldorado Gold during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.