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Sunday, April 18, 2021

The Unprecedented Rise of Eldorado Gold Corporation (NYSE:EGO)

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Eldorado Gold Corporation (EGO) shares are trading at lower $11.98 and the avg recommendation for the stock is Hold.

To add more color to this target, the company’s high over the last year is $14.23 and the low is $4.60. Over the last 52 weeks, EGO is up 51.26% while the S&P 500 is up 7.73%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, EGO reported a profit of $146.44 million. Eldorado Gold Corporation also saw revenues increase to $255.92 million. In addition, EGO has free cash flow of $75.29 million as of 06-2020. The company’s EBITDA came in at $129.85 million which compares well with its peers.

EGO booked profit margins of 16.50%, its Return on Equity (ROE) is 4.00%, and its Return on Assets is 2.90%. All told, it is clear that, EGO needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. EGO has a short ratio of 1.91 and outstanding shares of 174.13M.

Company Outlook

EGO has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.81 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.79. Eldorado Gold Corporation EGO also noted assets of $4.88 billion at the end of the last quarter. Investors should also keep an eye on sector updates as EGO has historically followed its peers on positive news.

All told, Eldorado Gold Corporation EGO has strung together solid data and demonstrated underlying fundamentals. At its current valuation, EGO represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Eldorado Gold Corporation EGO is now commanding a market cap of 2.12B and a float of 172.81M. EGO is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of EGO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in EGO, either long or short, and we have not been compensated for this article.

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