Eldorado Gold Corporation (EGO) - What Are Brokerages Saying About This Stock?

Key Points

• Analyst sentiment is moderately positive: Fifteen research firms give Eldorado Gold an average “Moderate Buy” rating, with an average 12-month price target of $46.57. Recent actions included upgrades from Stifel Nicolaus and CIBC, while Scotiabank cut its target to $47 but maintained a sector outperform rating.
• Quarterly earnings slightly exceeded expectations: Eldorado Gold reported adjusted earnings of $0.54 per share versus the $0.52 consensus estimate, although revenue of $487.5 million came in below the $529.9 million forecast.
• Institutional ownership remains substantial: Hedge funds and other institutions own 69.58% of the stock, with VanECK increasing its stake by 39%. The company also pays a quarterly dividend of $0.075, equivalent to a 0.9% annual yield at the stated share price.

Shares of Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD have received an average rating of "Moderate Buy" from the fifteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $46.57.

A number of analysts recently issued reports on the company. Scotiabank lowered their target price on 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. Weiss Ratings raised Eldorado Gold from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Stifel Nicolaus raised Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, July 31st. Jefferies Financial Group started coverage on Eldorado Gold in a research note on Thursday, August 20th. They issued a "buy" rating and a $50.00 price target for the company. Finally, Canadian Imperial Bank of Commerce raised Eldorado Gold from a "neutral" rating to an "outperform" rating in a research report on Sunday, August 9th.

Eldorado Gold Stock Performance

Shares of EGO opened at $32.89 on Friday. Eldorado Gold has a 12 month low of $24.44 and a 12 month high of $51.16. The firm has a fifty day simple moving average of $40.80 and a 200 day simple moving average of $35.45. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.32 and a beta of 0.67. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its 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 business had revenue of $487.50 million during the quarter, compared to the consensus estimate of $529.92 million. Research analysts forecast that Eldorado Gold will post 3.02 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. Eldorado Gold's dividend payout ratio (DPR) is currently 10.64%.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of Eldorado Gold by 39.0% during the 2nd quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company's stock worth $580,739,000 after purchasing an additional 5,241,277 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of Eldorado Gold in the 2nd quarter valued at about $3,621,000. Caisse de depot et placement du Quebec bought a new position in Eldorado Gold during the second quarter worth about $7,356,000. Fund 1 Investments LLC bought a new position in Eldorado Gold during the second quarter worth about $2,577,000. Finally, PSquared Asset Management AG bought a new position in Eldorado Gold during the second quarter worth about $12,756,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.

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