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Eldorado Gold Corporation (EGO) Shares: Cheap or Risky?

Eldorado Gold Corporation (NYSE:EGO) saw a downside of -1.33% to $9.30 after subtracting -$0.12 on Wednesday. The 5-day average trading volume is 1,380,120…

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This article was originally published by Fosters Leader

Eldorado Gold Corporation (NYSE:EGO) saw a downside of -1.33% to $9.30 after subtracting -$0.12 on Wednesday. The 5-day average trading volume is 1,380,120 shares of the company’s common stock. It has gained $9.50 in the past week and touched a new high 5 times within the past 5 days. An average of 1,526,680 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,593,830.

EGO’s 1-month performance is 13.36% or $1.03 on its low of $8.26 reached on 12/30/22. The company’s shares have touched a 52-week low of $5.06 and high of $12.49, with the stock’s rally to the 52-week high happening on 01/25/23. YTD, EGO has achieved 12.68% or $1.07 and has reached a new high 8 times. However, the current price is down -25.55% from the 52-week high price.

Valuation Metrics

EGO stock has a beta of 1.30. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.95 while the price-to-book (PB) in the most recent quarter is 0.55.

Eldorado Gold Corporation’s quick ratio for the period ended September 29 was 2.40, with the current ratio over the same period at 3.60. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.16, while the total debt to equity was 0.16. In terms of profitability, the gross margin trailing 12 months is 23.40%. The firm’s gross profit as reported stood at $491.17 million against revenue of $940.91 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Eldorado Gold Corporation’s cash and short-term investments amounted to $4.26 million against total debt of $514.38 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 549.04% to $80.59 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected EGO to announce $0.12 per share in earnings in its latest quarter, but it posted -$0.04, representing a -133.30% surprise. EBITDA for the quarter stood at more than $71.54 million. EGO stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 1.25 billion, with total debt at $514.38 million.

Let’s look briefly at Eldorado Gold Corporation (EGO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 69.24% to suggest the stock is trending Neutral, with historical volatility in this time period at 26.44%.

The stock’s 5-day moving average is $9.24, reflecting a +7.10% or $0.63 change from its current price. EGO is currently trading +12.34% above its 20-day SMA, +70.74% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +34.84% and SMA200 by-14.63%.

Stochastic %K and %D was 94.69% and 92.47% and the average true range (ATR) pointed at 0.35. The RSI (14) points at 65.74%, while the 14-day stochastic is at 92.42% with the period’s ATR at 0.36. The stock’s 9-day MACD Oscillator is pointing at 0.28 and 0.38 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Eldorado Gold Corporation (NYSE: EGO), Canaccord Genuity upgraded it to a Buy rating. They previously had a Hold rating on the stock.

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