Views On Eldorado Gold Corporation (EGO) From A Technical Perspective

The stock of Eldorado Gold Corporation (NYSE:EGO) increased by $0.16 on Tuesday to finish at $9.84, up 1.65 percent. The last five days have seen an average of 2,308,260 shares of common stock traded. 25 times new highs were reached in the current year, with a gain of $1.48. The average number of shares traded over the last 20 days was 1,680,565, while the average volume over the last 50 days totaled 1,745,226.

EGO stock dropped -17.93% since last month. On 05/31/23, the company’s shares reached a one-month low of $9.26. The stock touched a high of $12.11 on 05/05/23, after rallying from a low of $5.06 in 52 weeks. The price of EGO stock has risen by 17.70% or $1.48 this year, reaching a new high 25 times. Still, the stock price is down -18.74% from the 52-week high.

Valuation Metrics

Eldorado Gold Corporation (EGO) has a trailing price-to-earnings (P/E) ratio of 6.26. Beta for the stock is 1.24. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.04, the price-to-book (PB) ratio of 0.56.

Company paid $0.0153 per share in dividends, an increase of 53.0% from $0.01 last year.

Financial Health

For the three months ended March 30, Eldorado Gold Corporation’s quick ratio was 1.90, while its current ratio was 2.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending March 30 is 0.16, and the total debt to equity ratio is 0.16. As far as profitability goes, gross margin for the trailing twelve months is 21.00% percent. Eldorado Gold Corporation’s operating margin stood at 50.20% for the same period. Based on annual data, it had gross profit of $412.4 million and revenue of $871.98 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. EGO’s return on assets (ROA) during the last 12 months has been -0.40%. There was a -0.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -0.50%.

Earnings Surprise

According to Eldorado Gold Corporation’s quarterly financial report for the quarter that ended March 30, it had $4.26 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $617.82 million, while revenues rose by 25.7% to $0.0. It was predicted that Eldorado Gold Corporation’s quarterly earnings would be $0.11, but it ended up being $0.04, beating the consensus by 175.00%. EBITDA was $96.96 million for the quarter. At the end of Eldorado Gold Corporation’s most recent quarter ended March 30, its liabilities totaled 1.26 billion, while its total debt was $509.64 million.

Technical Picture

Here’s a quick look at Eldorado Gold Corporation’s (EGO) price momentum from a technical perspective. As of 06 June, the RSI 9-day stood at 39.43%, suggesting the stock is Neutral, with a 58.49% historical volatility rate.

The stochastic %K and %D were 23.70% and 21.82% respectively, while the average true range (ATR) was 0.40. Based on the 14-day stochastic reading of 32.04%, the RSI (14) reading is 39.87%. On the 9-day MACD Oscillator, the stock is at -0.17, and the 14-day reading is at -0.39.

Analyst Ratings

Eldorado Gold Corporation (NYSE: EGO) was downgraded by Stifel to a a Hold rating in its latest research report. The stock was previously rated as a a Buy.

What is EGO’s price target for the next 12 months?

The current consensus forecast for the stock is between $9.40 and $16.59, with a median target price of $12.14. In analyzing these forecasts, the average price target given by analysts for Eldorado Gold Corporation (EGO) is $12.03.

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