Eldorado Gold (NYSE:EGO) Shares Up 4.1%

Eldorado Gold Co. (NYSE:EGO – Get Rating) (TSE:ELD)’s stock price shot up 4.1% during trading on Friday . The company traded as high as $9.86 and last traded at $9.84. 1,092,047 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 1,805,357 shares. The stock had previously closed at $9.45.

Analyst Ratings Changes

A number of research firms have commented on EGO. StockNews.com began coverage on Eldorado Gold in a research report on Thursday. They issued a “hold” rating on the stock. National Bank Financial reduced their target price on Eldorado Gold from C$14.00 to C$13.50 in a research report on Tuesday, February 28th. Stifel Nicolaus reduced their target price on Eldorado Gold from C$17.00 to C$16.50 in a research report on Wednesday, November 23rd. Bank of America initiated coverage on Eldorado Gold in a report on Friday, March 10th. They issued an “underperform” rating and a $8.90 price objective on the stock. Finally, TD Securities cut their price objective on Eldorado Gold from $11.00 to $10.50 and set a “hold” rating on the stock in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.98.

Eldorado Gold Trading Up 4.8 %

The company has a fifty day simple moving average of $9.20 and a two-hundred day simple moving average of $7.66. The company has a current ratio of 3.00, a quick ratio of 2.06 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Eldorado Gold

Large investors have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in Eldorado Gold during the 4th quarter worth about $35,000. Optimum Investment Advisors purchased a new stake in Eldorado Gold during the 4th quarter worth about $39,000. New York State Common Retirement Fund boosted its position in shares of Eldorado Gold by 76.7% during the 3rd quarter. New York State Common Retirement Fund now owns 8,883 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 3,857 shares in the last quarter. Sargent Bickham Lagudis LLC acquired a new position in shares of Eldorado Gold during the 3rd quarter worth about $64,000. Finally, Prelude Capital Management LLC acquired a new position in shares of Eldorado Gold during the 2nd quarter worth about $78,000. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Eldorado Gold Company Profile

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Eldorado Gold Corp. engages in the mining, development and exploration of gold. It has mining operations, ongoing development projects and exploration in Turkey, Canada, Greece, Brazil, Romania and Serbia. The company was founded by Richard J. Barclay, Marco Antonio Romero, and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.