Eldorado Gold (NYSE:EGO) Shares Gap Down – Should You Sell?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) gapped down prior to trading on Monday . The stock had previously closed at $16.56, but opened at $16.10. Eldorado Gold shares last traded at $15.97, with a volume of 72,093 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EGO. TD Securities reduced their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Scotiabank boosted their price objective on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, Royal Bank of Canada increased their target price on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Eldorado Gold has a consensus rating of “Hold” and a consensus target price of $20.88.

Eldorado Gold Stock Up 0.1 %

The stock has a fifty day moving average of $17.11 and a 200-day moving average of $16.50. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 11.72 and a beta of 0.95. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $331.76 million during the quarter. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. During the same quarter in the previous year, the company earned $0.17 EPS. As a group, sell-side analysts expect that Eldorado Gold Co. will post 1.42 EPS for the current year.

Institutional Trading of Eldorado Gold

A number of institutional investors have recently bought and sold shares of the company. Jennison Associates LLC raised its stake in shares of Eldorado Gold by 65.0% during the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after purchasing an additional 2,376,241 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in Eldorado Gold in the second quarter valued at approximately $6,992,000. Jessup Wealth Management Inc bought a new stake in Eldorado Gold in the second quarter worth approximately $6,910,000. Millennium Management LLC raised its holdings in shares of Eldorado Gold by 230.6% during the 2nd quarter. Millennium Management LLC now owns 188,529 shares of the basic materials company’s stock valued at $2,788,000 after purchasing an additional 332,913 shares in the last quarter. Finally, Equinox Partners Investment Management LLC lifted its stake in shares of Eldorado Gold by 32.0% in the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after purchasing an additional 239,800 shares during the last quarter. Institutional investors and hedge funds 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.