Eldorado Gold (TSE:ELD) Shares Pass Above 200 Day Moving Average – Here’s Why

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$22.45 and traded as high as C$25.21. Eldorado Gold shares last traded at C$25.19, with a volume of 483,733 shares.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ELD. BMO Capital Markets decreased their price target on Eldorado Gold from C$29.00 to C$27.00 in a report on Friday, February 7th. National Bankshares lifted their target price on Eldorado Gold from C$25.00 to C$29.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Cormark lowered their price target on Eldorado Gold from C$33.50 to C$30.00 in a report on Monday, February 10th. Finally, National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st.

Eldorado Gold Stock Up 4.1 %

The stock has a market cap of C$3.63 billion, a P/E ratio of 13.11, a P/E/G ratio of 56.20 and a beta of 1.22. The company’s 50 day moving average price is C$21.47 and its two-hundred day moving average price is C$22.45. The company has a quick ratio of 2.28, a current ratio of 3.37 and a debt-to-equity ratio of 23.28.

Insider Activity

In other Eldorado Gold news, Senior Officer Nicolae Stanca sold 4,235 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of C$13.92, for a total value of C$58,951.20. Also, Senior Officer Joseph Dennis Dick sold 9,275 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of C$20.22, for a total transaction of C$187,540.50. In the last three months, insiders have sold 40,924 shares of company stock worth $811,687. 0.58% of the stock is currently owned by company insiders.

About Eldorado Gold

Eldorado Gold Corp is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece and Romania. It has a portfolio of high-quality assets and long-term partnerships with local communities. Some of its projects include Kisladag, Efemcukuru, Skouries; Perama Hill and Certej projects.