Eldorado Gold Corporation (NYSE: EGO)’S Stock Falls -2.19%, But It May Be Worth Investing In

Eldorado Gold Corporation (NYSE:EGO) price is hovering lower on Tuesday, August 16, dropping -2.19% below its previous close.

A look at today’s price movement shows that the recent level at last check reads $6.38, with intraday deals fluctuating between $6.16 and $6.39. The company’s 5Y monthly beta was ticking 1.48. Taking into account the 52-week price action we note that the stock hit a 52-week high of $12.49 and 52-week low of $5.27. The stock added 16.21% on its value in the past month.

Eldorado Gold Corporation, which has a market valuation of $1.13 billion, is expected to release its quarterly earnings report Oct 26, 2022 – Oct 31, 2022. Analysts tracking EGO have forecast the quarterly EPS to grow by 0.2 per share this quarter, while the same analysts predict the annual EPS to hit $0.31 for the year 2022 and up to $0.7 for 2023. In this case, analysts estimate an annual EPS growth of -53.00% for the year and 125.80% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $285 million, with the likely lows of $285 million and highs of $285 million. The average estimate suggests sales growth for the quarter will likely rise by 14.90% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $935.78 million for the company’s annual revenue in 2022. Per this projection, the revenue is forecast to grow -0.50% below that which the company brought in 2022.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 1 upward and no downward reviews. On the technical perspective front, indicators give EGO a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that EGO’s price is at present 3.64% off the SMA20 and -4.26% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 50.27, with weekly volatility standing at 4.06%. The indicator jumps to 5.40% when calculated based on the past 30 days. Eldorado Gold Corporation (NYSE:EGO)’s beta value is holding at 1.39, while the average true range (ATR) indicator is currently reading 0.33.

An analysis of the Eldorado Gold Corporation (NYSE:EGO) stock in terms of its daily trading volume indicates that the 3-month average is 2.17 million. However, this figure increases on the past 10-day timeline to an average of 1.93 million.

Current records show that the company has 183.78M in outstanding shares. The insiders’ percentage holdings are 0.80% of outstanding shares while the percentage share held by institutions stands at 75.80%. The stats also highlight that short interest as of Jul 28, 2022, stood at 6.24 million shares, which puts the short ratio at the time at 2.5. From this we can glean that short interest is 3.38% of company’s current outstanding shares. Notably, we see that shares short in July rose slightly given the previous month’s figure stood at 6.08 million. But the -31.76% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.

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