Eldorado Gold Corporation (NYSE:EGO) Receives Consensus Rating of “Hold” from Brokerages

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has earned an average rating of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $41.8333.

EGO has been the topic of several recent analyst reports. ATB Cormark Capital Markets cut shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Zacks Research raised shares of Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Scotiabank reduced 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 report on Tuesday, July 14th. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. Finally, TD Cowen lowered their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, April 14th.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds have recently made changes to their positions in the company. L1 Capital Pty Ltd raised its holdings in Eldorado Gold by 35.2% in the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after purchasing an additional 2,512,168 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Eldorado Gold by 2.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock valued at $199,274,000 after buying an additional 132,170 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 worth $175,522,000 after buying an additional 54,964 shares during the period. Carrhae Capital LLP grew its position in shares of Eldorado Gold by 10.6% in the 3rd quarter. Carrhae Capital LLP now owns 4,994,738 shares of the basic materials company’s stock worth $144,298,000 after buying an additional 480,253 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of Eldorado Gold by 904.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after acquiring an additional 1,631,373 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Trading Up 9.6%

NYSE EGO opened at $30.39 on Wednesday. The stock has a market cap of $7.94 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 0.19 and a beta of 0.62. Eldorado Gold has a fifty-two week low of $20.15 and a fifty-two week high of $51.16. The stock has a 50 day simple moving average of $31.42 and a two-hundred day simple moving average of $36.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.26. The firm had revenue of $532.43 million for the quarter, compared to analysts’ expectations of $503.31 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. On average, analysts forecast that Eldorado Gold will post 3.41 earnings per share for the current year.

Eldorado Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were given a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 1.0%. Eldorado Gold’s dividend payout ratio is currently 10.68%.

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.