Brokerages Set Eldorado Gold Corporation (NYSE:EGO) PT at $41.83

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has received an average rating of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $41.8333.

A number of brokerages have recently weighed in on EGO. Citigroup lowered Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. Bank of America increased their price objective on shares of Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Royal Bank Of Canada lowered their target price on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Finally, Scotiabank cut their price target on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Eldorado Gold during the 2nd quarter worth about $32,000. Smartleaf Asset Management LLC acquired a new position in shares of Eldorado Gold in the fourth quarter valued at about $33,000. Flagship Harbor Advisors LLC acquired a new position in shares of Eldorado Gold in the fourth quarter valued at about $36,000. Wexford Capital LP purchased a new position in shares of Eldorado Gold in the third quarter worth about $37,000. Finally, State of Wyoming purchased a new position in shares of Eldorado Gold in the second quarter worth about $58,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Stock Up 3.2%

Shares of EGO stock opened at $39.69 on Friday. Eldorado Gold has a 1-year low of $21.84 and a 1-year high of $51.16. The stock’s fifty day moving average price is $32.33 and its 200 day moving average price is $35.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 0.29 and a beta of 0.63.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%.The company had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. On average, research analysts expect that Eldorado Gold will post 3.2 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. Eldorado Gold’s payout ratio is 10.64%.

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.