Eldorado Gold (NYSE:EGO) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on EGO. Jefferies Financial Group started coverage on Eldorado Gold in a research note on Thursday, August 20th. They set a “buy” rating and a $50.00 price objective for the company. Weiss Ratings downgraded Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Royal Bank Of Canada raised their price target on Eldorado Gold from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Finally, Zacks Research downgraded shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.57.

Eldorado Gold Trading Up 5.1%

EGO opened at $32.17 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. The stock has a market cap of $8.41 billion, a PE ratio of 10.72, a PEG ratio of 0.35 and a beta of 0.67. The business has a 50 day moving average of $39.51 and a 200-day moving average of $36.87. Eldorado Gold has a 52 week low of $24.60 and a 52 week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Eldorado Gold had a net margin of 31.67% and a return on equity of 11.21%. The business had revenue of $511.90 million for the quarter, compared to analysts’ expectations of $621.90 million. Equities research analysts predict that Eldorado Gold will post 2.74 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, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 1st. Eldorado Gold’s payout ratio is presently 10.00%.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Eldorado Gold during the second quarter worth $587,469,000. Van ECK Associates Corp grew its stake in Eldorado Gold by 39.0% during the second quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock valued at $580,739,000 after acquiring an additional 5,241,277 shares in the last quarter. Donald Smith & CO. Inc. bought a new stake in Eldorado Gold in the 2nd quarter valued at $272,580,000. Dimensional Fund Advisors LP increased its holdings in Eldorado Gold by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,113,413 shares of the basic materials company’s stock valued at $175,522,000 after acquiring an additional 54,964 shares during the last quarter. Finally, Ninety One UK Ltd increased its holdings in Eldorado Gold by 5.1% in the 3rd quarter. Ninety One UK Ltd now owns 3,303,287 shares of the basic materials company’s stock valued at $127,246,000 after acquiring an additional 158,798 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado’s operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.