Eldorado Gold (NYSE:EGO) Stock Bumped Up to Strong-Buy by Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a strong-buy rating in a research note released on Friday,Zacks reports.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Scotiabank reduced their price target on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Royal Bank Of Canada lifted their price objective on shares of Eldorado Gold from $37.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. Bank of America raised shares of Eldorado Gold from an “underperform” rating to a “buy” rating and upped their price objective for the company from $32.00 to $54.00 in a report on Tuesday, September 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Eldorado Gold in a report on Thursday, August 20th. They issued a “buy” rating and a $50.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Eldorado Gold presently has an average rating of “Moderate Buy” and a consensus target price of $46.57.

Eldorado Gold Stock Down 3.9%

Eldorado Gold stock opened at $31.63 on Friday. The business’s 50-day simple moving average is $40.64 and its two-hundred day simple moving average is $35.43. 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 company has a market cap of $8.27 billion, a PE ratio of 11.22, a PEG ratio of 0.30 and a beta of 0.67. Eldorado Gold has a fifty-two week low of $24.44 and a fifty-two week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $487.50 million during the quarter, compared to analysts’ expectations of $529.92 million. Equities analysts anticipate that Eldorado Gold will post 3.02 EPS for the current year.

Eldorado Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Eldorado Gold’s payout ratio is 10.64%.

Institutional Trading of Eldorado Gold

A number of hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC acquired a new stake in Eldorado Gold during the second quarter worth about $25,000. Farther Finance Advisors LLC lifted its holdings in Eldorado Gold by 217.4% in the third quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 887 shares during the period. Fortitude Family Office LLC acquired a new position in Eldorado Gold in the third quarter valued at approximately $58,000. EFG International AG acquired a new position in Eldorado Gold in the second quarter valued at approximately $62,000. Finally, Nykredit A S purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $143,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.