Traders Purchase High Volume of Eldorado Gold Call Options (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) was the recipient of some unusual options trading on Friday. Investors acquired 4,495 call options on the stock. This represents an increase of approximately 269% compared to the average daily volume of 1,217 call options.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $19.30 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The company has a 50 day simple moving average of $15.33 and a two-hundred day simple moving average of $15.90. Eldorado Gold has a fifty-two week low of $13.29 and a fifty-two week high of $19.55. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 13.79 and a beta of 0.81.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Thursday. Scotiabank cut their price objective on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada upped their target price on Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Finally, National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.75.

Institutional Trading of Eldorado Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its stake in shares of Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after buying an additional 682 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Eldorado Gold in the 4th quarter valued at approximately $55,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Eldorado Gold during the 4th quarter valued at $113,000. Tradition Wealth Management LLC bought a new stake in shares of Eldorado Gold in the 4th quarter worth $153,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Eldorado Gold in the fourth quarter worth $183,000. 69.58% of the stock is currently owned by institutional investors.

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.