Eldorado Gold (NYSE:EGO) Hits New 1-Year High – Still a Buy?

Shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $19.39 and last traded at $19.18, with a volume of 828418 shares changing hands. The stock had previously closed at $18.00.

Analysts Set New Price Targets

EGO has been the topic of several recent research reports. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Thursday. Scotiabank cut their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada increased their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy 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 $19.75.

Eldorado Gold Stock Up 7.2 %

The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.97 billion, a PE ratio of 13.79 and a beta of 0.81. The company’s 50 day moving average price is $15.33 and its two-hundred day moving average price is $15.90.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The business had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. On average, equities research analysts expect that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in Eldorado Gold by 17.5% during the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after acquiring an additional 1,058,137 shares during the period. JPMorgan Chase & Co. raised its stake in Eldorado Gold by 130.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after purchasing an additional 85,053 shares during the period. SBI Securities Co. Ltd. purchased a new position in Eldorado Gold in the 4th quarter worth approximately $55,000. Barclays PLC grew its holdings in Eldorado Gold by 18.6% during the 3rd quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock valued at $3,064,000 after buying an additional 27,667 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Eldorado Gold by 0.6% in the fourth quarter. Swiss National Bank now owns 403,620 shares of the basic materials company’s stock worth $6,000,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.