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Eldorado Gold Corporation (EGO): A Technical View

At last check on Thursday, Eldorado Gold Corporation’s (NYSE:EGO) stock was down -$0.25, moving down -3.00 percent to $7.93. The average number of shares…

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This article was originally published by Fosters Leader

At last check on Thursday, Eldorado Gold Corporation’s (NYSE:EGO) stock was down -$0.25, moving down -3.00 percent to $7.93. The average number of shares traded per day over the past five days has been 1,352,512 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.64 fall in that time frame. In the last twenty days, the average volume was 1,982,563, while in the previous 50 days, it was 2,036,793.

Since last month, EGO stock retreated -4.22%. Shares of the company fell to $7.76 on 05/12/22, the lowest level in the past month. A 52-week high of $12.49 was reached on 04/18/22 after having rallying from a 52-week low of $7.45. Since the beginning of this year, EGO’s stock price has dropped by -12.51% or -$1.44, and marked a new high 20 times. However, the stock has declined by -36.44% since its 52-week high.

Valuation Metrics

The stock’s beta is 1.41. Besides these, the trailing price-to-sales (P/S) ratio of 1.68, the price-to-book (PB) ratio of 0.46.

The latest dividend of $0.015260 per share was paid out, which is 52.6% more than last year’s $0.01.

Financial Health

In the three months ended March 30, Eldorado Gold Corporation’s quick ratio stood at 2.60, while its current ratio was 3.60, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.15, and the total debt-to-equity ratio was 0.15. On the profitability front, the trailing twelve-month gross margin is 29.20% percent. Based on annual data, EGO earned $491.17 million in gross profit and brought in $940.91 million in revenue.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. EGO’s revenue rose 25.7% during the quarter, while net income inched up to $617.82 million. While analysts expected Eldorado Gold Corporation to report $0.11 quarterly earnings, the actual figure was -$0.1 per share, beating the consensus estimate by -190.90%. During the quarter, the company generated $59.36 million in EBITDA. The liabilities of Eldorado Gold Corporation were 1.25 billion at the end of its most recent quarter ended March 30, and its total debt was $502.89 million.

Technical Picture

This quick technical analysis looks at Eldorado Gold Corporation’s (EGO) price momentum. With a historical volatility rate of 36.40%, the RSI 9-day stood at 33.06% on 08 June.

With respect to its five-day moving average, the current Eldorado Gold Corporation price is down by -7.49% percent or -$0.64. At present, EGO shares trade -5.72% below its 20-day simple moving average and -17.09% percent below its 100-day simple moving average. However, the stock is currently trading approximately -29.56% below its SMA50 and -7.49% below its SMA200.

Stochastic coefficient K was 28.65% and Stochastic coefficient D was 42.92%, while ATR was 0.33. Given the Stochastic reading of 2.63% for the 14-day period, the RSI (14) reading has been calculated as 33.93%. As of today, the MACD Oscillator reading stands at -0.09, while the 14-day reading stands at -0.14.

Analyst Ratings

RBC Capital Mkts upgraded its rating on Eldorado Gold Corporation (NYSE: EGO) to a Sector perform in a note to investors on October 09, 2020. The analysts firm previously had an Underperform rating on the stock.Eldorado Gold Corporation (EGO) has been rated Overweight by analysts. According to 1 brokerage firm, EGO is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Eldorado Gold Corporation stock as buy, with 5 recommending it as overweight.

With a median target price of $14.30, the current consensus forecast for the stock is $10.00 – $17.21. Based on these forecasts, analysts predict Eldorado Gold Corporation (EGO) will achieve an average price target of $13.94.

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