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

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has earned an average rating of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $41.8333.

EGO has been the subject of several analyst reports. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. TD Cowen decreased their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a report on Wednesday, April 15th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Finally, TD Securities reduced their price target on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th.

Eldorado Gold Stock Performance

NYSE:EGO opened at $27.94 on Wednesday. The stock has a market cap of $7.30 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 0.17 and a beta of 0.62. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average is $31.65 and its 200-day moving average is $36.19. Eldorado Gold has a 1-year low of $19.70 and a 1-year high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $503.31 million. Equities research analysts anticipate that Eldorado Gold will post 3.87 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were issued a $0.075 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 1.1%. Eldorado Gold’s dividend payout ratio is presently 10.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EGO. Goldman Sachs Group Inc. increased its position in shares of Eldorado Gold by 50.0% during the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after buying an additional 266,048 shares during the period. Geode Capital Management LLC lifted its holdings in Eldorado Gold by 6.0% in the second quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock valued at $2,318,000 after buying an additional 6,383 shares during the period. JPMorgan Chase & Co. boosted its position in Eldorado Gold by 1,209.2% during the second quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock valued at $6,903,000 after acquiring an additional 313,449 shares during the last quarter. Jump Financial LLC bought a new stake in Eldorado Gold during the second quarter valued at $859,000. Finally, Cerity Partners LLC grew its holdings in Eldorado Gold by 15.2% during the 2nd quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company’s stock worth $733,000 after acquiring an additional 4,758 shares during the period. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.