Technicals Say Eldorado Gold Corporation (EGO) Is A Hold

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Eldorado Gold Corporation (NYSE:EGO) finished Thursday with a subtraction of -$0.46 to close at $5.30, a downside of -7.99 percent. An average of 1,495,570 shares of common stock have been traded in the last five days. There was a fall of -$0.41 in the past week, and it reached a new high 29 times over the past 12 months. The last 20 days have seen an average of 1,906,162 shares traded, while the 50-day average volume stands at 2,000,639.

EGO stock has decreased by -5.42% in the last month. The company shares reached their 1-month lowest point of $5.21 on 09/01/22. With the stock rallying to its 52-week high on 04/18/22, shares of the company touched a low of $5.21 and a high of $12.49 in 52 weeks. It has reached a new high 20 times so far this year and lost -38.40% or -$4.04 in price. In spite of this, the price is down -57.55% from the 52-week high.


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Valuation Metrics

Eldorado Gold Corporation (EGO) stock’s beta is 1.39. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.18, the price-to-book (PB) ratio at 0.33.

Financial Health

The quick ratio of Eldorado Gold Corporation for the three months ended June 29 was 2.40, and the current ratio was 3.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.16 and a total debt to equity ratio of 0.16 for the quarter ending June 29. Its gross profit as reported stood at $491.17 million compared to revenue of $940.91 million.

Earnings Surprise

For the three-month period that ended June 29, Eldorado Gold Corporation had $4.26 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $80.59 million in the quarter, while revenues were grew 549.04%. The analyst consensus anticipated Eldorado Gold Corporation’s latest quarter earnings to come in at $0.11 per share, but it turned out to be $0.08, a -27.30% surprise. For the quarter, EBITDA amounted to $89.89 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Eldorado Gold Corporation (EGO) price momentum. RSI 9-day as of the close on 22 September was 32.24%, suggesting the stock is Neutral, with historical volatility in this time frame at 48.75%.

As of today, EGO’s price is $5.73 -7.24% or -$0.41 from its 5-day moving average. EGO is currently trading -14.55% lower than its 20-day SMA and -43.82% lower than its 100-day SMA. However, the stock’s current price level is -4.58% below the SMA50 and -42.54% below the SMA200.

The stochastic %K and %D were 40.54% and 58.10%, respectively, and the average true range (ATR) was 0.30. With the 14-day stochastic at 0.62% and the average true range at 0.29, the RSI (14) stands at 37.03%. The stock has reached -0.11 on the 9-day MACD Oscillator while the 14-day reading was at -0.13.

Analyst Ratings

Canaccord Genuity upgraded Eldorado Gold Corporation (NYSE: EGO) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold.

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