Eldorado Gold (TSE:ELD) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO)’s stock price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$49.38 and traded as high as C$53.78. Eldorado Gold shares last traded at C$52.14, with a volume of 703,275 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on ELD shares. Bank of America upgraded shares of Eldorado Gold from an “underperform” rating to a “buy” rating and lifted their target price for the stock from C$32.00 to C$54.00 in a research report on Tuesday, September 22nd. Canaccord Genuity Group increased their price target on shares of Eldorado Gold from C$55.00 to C$63.00 in a research report on Tuesday, September 22nd. Jefferies Financial Group raised shares of Eldorado Gold to a “strong-buy” rating in a research note on Thursday, August 20th. National Bank Financial raised their price objective on shares of Eldorado Gold from C$65.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 9th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$61.25.

Eldorado Gold Price Performance

The company has a debt-to-equity ratio of 25.70, a current ratio of 1.31 and a quick ratio of 2.27. The company has a 50-day moving average price of C$57.61 and a 200-day moving average price of C$49.40. The firm has a market capitalization of C$13.40 billion, a PE ratio of 18.29, a P/E/G ratio of 56.20 and a beta of 1.68.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.77 EPS for the quarter. Eldorado Gold had a return on equity of 12.38% and a net margin of 29.89%. The business had revenue of C$692.57 million for the quarter. Sell-side analysts forecast that Eldorado Gold Co. will post 2.15 EPS for the current year.

Insider Activity

In other Eldorado Gold news, Director Seda Erdemir sold 1,239 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of C$60.37, for a total transaction of C$74,798.43. 0.58% of the stock is owned by corporate insiders.

Eldorado Gold Company Profile

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado’s common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).