Eldorado Gold Corporation (NYSE:EGO) Announces $0.08 Quarterly Dividend

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) declared a quarterly dividend on Thursday, January 22nd. Investors of record on Friday, February 27th will be given a dividend of 0.075 per share by the basic materials company on Friday, March 13th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 27th.

Eldorado Gold has a dividend payout ratio of -3,861.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Eldorado Gold to earn $2.00 per share next year, which means the company may not be able to cover its ($100.00) annual dividend with an expected future payout ratio of -5,000.0%.

Eldorado Gold Stock Performance

NYSE:EGO opened at $45.21 on Friday. The firm’s 50-day moving average is $34.80 and its 200-day moving average is $28.40. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 0.23 and a beta of 0.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.28 and a current ratio of 2.79. Eldorado Gold has a 52-week low of $13.29 and a 52-week high of $46.44.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, October 30th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. The firm had revenue of $436.44 million during the quarter, compared to analyst estimates of $422.25 million. Equities research analysts anticipate that Eldorado Gold will post 1.5 earnings per share for the current year.

Wall Street Analyst Weigh In

EGO has been the subject of several research analyst reports. Canaccord Genuity Group upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday. Scotiabank upped their price target on shares of Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.20.

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.