Eldorado Gold Corporation (NYSE:EGO) Receives Average Rating of “Hold” from Brokerages

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has been assigned a consensus rating of “Hold” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $44.50.

Several analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 15th. Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Citigroup cut shares of Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. ATB Cormark Capital Markets cut shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th.

Hedge Funds Weigh In On Eldorado Gold

Several large investors have recently made changes to their positions in EGO. Van ECK Associates Corp lifted its holdings in shares of Eldorado Gold by 33.9% in the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after acquiring an additional 4,173,963 shares during the last quarter. L1 Capital Pty Ltd lifted its holdings in shares of Eldorado Gold by 35.2% in the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after acquiring an additional 2,512,168 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Eldorado Gold by 904.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after acquiring an additional 1,631,373 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Eldorado Gold by 490.6% in the 4th quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after acquiring an additional 1,484,503 shares during the last quarter. Finally, FIL Ltd acquired a new position in shares of Eldorado Gold in the 4th quarter worth approximately $35,473,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Stock Performance

Eldorado Gold stock opened at $31.31 on Tuesday. The firm has a 50 day simple moving average of $33.57 and a 200-day simple moving average of $36.21. Eldorado Gold has a 1-year low of $19.31 and a 1-year high of $51.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.18 and a beta of 0.56.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The business had revenue of $532.43 million during the quarter, compared to analysts’ expectations of $503.31 million. On average, analysts expect that Eldorado Gold will post 4.27 EPS for the current year.

Eldorado Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio is currently 10.68%.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.