Eldorado Gold (NYSE:EGO) Shares Gap Down – Time to Sell?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) gapped down prior to trading on Monday. The stock had previously closed at $41.92, but opened at $39.35. Eldorado Gold shares last traded at $39.8950, with a volume of 264,393 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on EGO shares. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada increased their target price on shares of Eldorado Gold from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Bank of America raised shares of Eldorado Gold from an “underperform” rating to a “buy” rating and raised their price target for the company from $32.00 to $54.00 in a research report on Tuesday, September 22nd. Jefferies Financial Group assumed coverage on shares of Eldorado Gold in a research note on Thursday, August 20th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.57.

Eldorado Gold Stock Down 5.6%

The firm’s fifty day simple moving average is $39.71 and its 200 day simple moving average is $35.27. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.31 and a beta of 0.71.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. Sell-side analysts predict that Eldorado Gold Corporation will post 3.16 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 1st. Eldorado Gold’s dividend payout ratio is 10.64%.

Institutional Trading of Eldorado Gold

A number of institutional investors have recently bought and sold shares of EGO. Continuum Advisory LLC purchased a new stake in Eldorado Gold during the 2nd quarter worth about $25,000. EFG International AG purchased a new position in shares of Eldorado Gold in the 2nd quarter valued at about $62,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Eldorado Gold in the 4th quarter valued at about $98,000. Nykredit A S acquired a new stake in shares of Eldorado Gold during the 2nd quarter worth about $143,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Eldorado Gold during the 4th quarter worth about $253,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Vancouver-based mid-tier gold producer focused on the exploration, development and operation of precious-metals mining assets. The company primarily produces gold, with some operations also generating silver, lead and zinc concentrates.

Eldorado Gold operates the Lamaque gold mine in Quebec, Canada; the Kisladag and Efemcukuru gold mines in Türkiye; and the Olympias polymetallic mine in northern Greece. The company is also advancing the Skouries project in Greece, a copper-gold development that is expected to expand its production profile.

Founded in 1996, Eldorado has built an international portfolio through acquisitions, exploration and mine development.