Eldorado Gold Corporation (NYSE:EGO) Given Average Rating of “Hold” by Analysts

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

A number of research firms have commented on EGO. Zacks Research downgraded shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. TD Cowen cut their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Canadian Imperial Bank of Commerce downgraded shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a research report on Friday, February 20th. Scotiabank cut their target price on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 21st. Finally, TD Securities cut their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds have recently modified their holdings of the business. Montrusco Bolton Investments Inc. grew its position in shares of Eldorado Gold by 41.1% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 356,975 shares of the basic materials company’s stock valued at $10,311,000 after acquiring an additional 103,975 shares during the period. Gabelli Funds LLC grew its position in shares of Eldorado Gold by 11.8% during the 3rd quarter. Gabelli Funds LLC now owns 1,342,600 shares of the basic materials company’s stock valued at $38,788,000 after acquiring an additional 141,900 shares during the period. TT International Asset Management LTD grew its position in shares of Eldorado Gold by 1,730.9% during the 4th quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock valued at $26,916,000 after acquiring an additional 710,290 shares during the period. Sprott Inc. grew its position in shares of Eldorado Gold by 3.1% during the 3rd quarter. Sprott Inc. now owns 1,915,378 shares of the basic materials company’s stock valued at $55,335,000 after acquiring an additional 58,013 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Eldorado Gold by 36.5% during the 3rd quarter. American Century Companies Inc. now owns 1,565,341 shares of the basic materials company’s stock valued at $45,207,000 after acquiring an additional 418,982 shares during the period. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Trading Down 0.1%

NYSE:EGO opened at $33.03 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. Eldorado Gold has a 12 month low of $19.56 and a 12 month high of $51.16. The company has a market cap of $8.62 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.19 and a beta of 0.58. The company has a 50 day simple moving average of $32.54 and a two-hundred day simple moving average of $36.64.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $503.31 million. Research analysts forecast that Eldorado Gold will post 4.27 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. Eldorado Gold’s payout ratio is presently 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.