Eldorado Gold (TSE:ELD) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Eldorado Gold Co. (TSE:ELD) (NYSE:EGO) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$50.90 and traded as high as C$53.47. Eldorado Gold shares last traded at C$52.80, with a volume of 491,659 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America raised Eldorado Gold from an “underperform” rating to a “buy” rating and increased their target price for the stock from C$32.00 to C$54.00 in a research report on Tuesday, September 22nd. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 9th. Jefferies Financial Group upgraded Eldorado Gold to a “strong-buy” rating in a research note on Thursday, August 20th. Stifel Nicolaus raised their price objective on Eldorado Gold from C$65.00 to C$70.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Finally, ATB Cormark Capital Markets cut their price objective on Eldorado Gold from C$64.00 to C$61.00 and set a “sector perform” rating on the stock in a report on Friday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$58.75.

Eldorado Gold Trading Down 5.4%

The company has a quick ratio of 2.27, a current ratio of 1.42 and a debt-to-equity ratio of 28.90. The firm’s 50 day simple moving average is C$53.28 and its 200-day simple moving average is C$50.76. The company has a market capitalization of C$12.46 billion, a PE ratio of 16.12, a P/E/G ratio of 56.20 and a beta of 2.07.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last issued its earnings results on Wednesday, October 28th. The company reported C$0.70 EPS for the quarter. The business had revenue of C$728.69 million for the quarter. Eldorado Gold had a net margin of 31.67% and a return on equity of 11.96%. As a group, equities research analysts anticipate that Eldorado Gold Co. will post 2.15 EPS for the current year.

Insider Activity at Eldorado Gold

In other news, Director Seda Erdemir sold 1,239 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of C$60.37, for a total value of C$74,798.43. 0.58% of the stock is currently 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).