Eldorado Gold Corporation (NYSE:EGO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has been given a consensus rating of “Moderate Buy” by the fifteen analysts that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $46.57.

EGO has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group assumed coverage on shares of Eldorado Gold in a report on Thursday, August 20th. They set a “buy” rating and a $50.00 price target on the stock. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Zacks Research upgraded shares of Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Finally, Weiss Ratings raised shares of Eldorado Gold from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th.

Eldorado Gold Stock Up 1.3%

Shares of EGO stock opened at $38.11 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The business’s fifty day moving average is $40.48 and its 200-day moving average is $35.26. Eldorado Gold has a 1 year low of $24.44 and a 1 year high of $51.16. The stock has a market cap of $9.97 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.27 and a beta of 0.67.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results 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. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The company had revenue of $487.50 million during the quarter, compared to the consensus estimate of $529.92 million. Equities analysts expect that Eldorado Gold will post 3.16 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

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

Hedge Funds Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGO. Engineers Gate Manager LP lifted its position in Eldorado Gold by 34.9% in the second quarter. Engineers Gate Manager LP now owns 8,983 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 2,324 shares during the period. NewEdge Advisors LLC increased its holdings in Eldorado Gold by 8.4% in the 2nd quarter. NewEdge Advisors LLC now owns 63,641 shares of the basic materials company’s stock valued at $1,979,000 after buying an additional 4,958 shares during the period. Nykredit A S acquired a new position in shares of Eldorado Gold in the 2nd quarter valued at $143,000. HighTower Advisors LLC bought a new position in shares of Eldorado Gold during the 2nd quarter worth about $239,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Eldorado Gold by 222.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,460 shares of the basic materials company’s stock worth $300,000 after acquiring an additional 6,530 shares during the period. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company engaged in the exploration, development, construction and operation of gold mines. The company produces gold doré and concentrates, with its activities focused on operating and advancing assets in Türkiye, Greece and Canada.

Eldorado Gold’s principal producing operations include the Kisladag and Efemcukuru mines in Türkiye, the Olympias mine in northern Greece and the Lamaque mine in Quebec, Canada. The company is also advancing the Skouries project in Greece, a copper-gold development intended to produce both copper concentrate and gold.

The company traces its modern history to the 1990s and has expanded through exploration, mine development and acquisitions, including the acquisition of European Goldfields and Integra Gold.