Eldorado Gold (TSE:ELD) Share Price Passes Above Two Hundred Day Moving Average of $21.14

Shares of Eldorado Gold Co. (TSE:ELD) (NYSE:EGO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$21.14 and traded as high as C$24.31. Eldorado Gold shares last traded at C$24.09, with a volume of 397,685 shares traded.

Wall Street Analysts Forecast Growth

ELD has been the subject of a number of research reports. Canaccord Genuity Group lifted their price objective on shares of Eldorado Gold from C$23.00 to C$26.50 in a report on Tuesday, July 23rd. Cibc World Mkts raised shares of Eldorado Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$14.00 to C$20.00 in a report on Wednesday, May 29th. Finally, National Bankshares lifted their price objective on shares of Eldorado Gold from C$26.00 to C$27.00 in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$22.54.

Eldorado Gold Price Performance

The company has a quick ratio of 2.28, a current ratio of 3.62 and a debt-to-equity ratio of 20.85. The company has a market capitalization of C$4.93 billion, a P/E ratio of 20.24, a PEG ratio of 56.20 and a beta of 1.23. The business has a 50 day simple moving average of C$23.09 and a 200-day simple moving average of C$21.14.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last posted its earnings results on Thursday, July 25th. The company reported C$0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.09. The company had revenue of C$406.56 million for the quarter. Eldorado Gold had a return on equity of 4.99% and a net margin of 15.68%. Analysts predict that Eldorado Gold Co. will post 2.154321 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Christos Balaskas sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of C$20.40, for a total value of C$204,000.00. In related news, Senior Officer Christos Balaskas sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of C$20.40, for a total value of C$204,000.00. Also, Senior Officer Ryan Swedburg sold 3,553 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$23.43, for a total transaction of C$83,234.71. Insiders sold 18,854 shares of company stock valued at $401,716 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

About Eldorado Gold

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.