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

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$43.59 and traded as high as C$62.64. Eldorado Gold shares last traded at C$61.88, with a volume of 1,271,241 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Eldorado Gold from C$48.00 to C$65.00 in a report on Tuesday, February 10th. Scotiabank upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. ATB Cormark Capital Markets lowered their price target on shares of Eldorado Gold from C$100.00 to C$89.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. BMO Capital Markets upped their price target on shares of Eldorado Gold from C$59.00 to C$74.00 in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group reduced their price objective on Eldorado Gold from C$70.00 to C$62.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$60.75.

Eldorado Gold Trading Down 4.1%

The stock has a market capitalization of C$12.44 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 56.20 and a beta of 1.44. The company has a current ratio of 3.37, a quick ratio of 2.28 and a debt-to-equity ratio of 23.28. The company has a fifty day moving average of C$54.93 and a two-hundred day moving average of C$43.59.

Eldorado Gold Company Profile

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.