Eldorado Gold Corporation (NYSE:EGO) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Eldorado Gold “Moderate Buy.” Of 15 analysts, six recommend buying, two strongly recommend buying and seven rate the stock as a hold; the average 12-month price target is $46.57.
• Institutional ownership is substantial and growing. Hedge funds and other institutions own 69.58% of the stock, with major positions or recent purchases from BlackRock, VanEck Associates, L1 Capital and others.
• Eldorado Gold reported quarterly EPS of $0.54, slightly exceeding the $0.52 consensus estimate, though revenue of $487.5 million fell below expectations. The company also pays a quarterly dividend of $0.075 per share, equivalent to a 0.7% annual yield.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD has earned a consensus recommendation of "Moderate Buy" from the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating 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.

A number of equities research analysts recently weighed in on EGO shares. Jefferies Financial Group initiated coverage on shares of Eldorado Gold in a report on Thursday, August 20th. They set a "buy" rating and a $50.00 price objective for the company. Weiss Ratings upgraded shares of Eldorado Gold from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 8th. Scotiabank reduced their target price 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. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a "neutral" rating to an "outperform" rating in a research note on Sunday, August 9th. Finally, Stifel Nicolaus upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, July 31st.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds have recently made changes to their positions in EGO. BlackRock Inc. purchased a new position in shares of Eldorado Gold during the second quarter valued at $587,469,000. Van ECK Associates Corp lifted its stake in Eldorado Gold by 39.0% in the second quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company's stock worth $580,739,000 after acquiring an additional 5,241,277 shares during the period. L1 Capital Pty Ltd grew its holdings in Eldorado Gold by 35.2% during the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company's stock worth $346,283,000 after acquiring an additional 2,512,168 shares in the last quarter. Donald Smith & CO. Inc. purchased a new position in Eldorado Gold during the 2nd quarter valued at about $272,580,000. Finally, Arrowstreet Capital Limited Partnership increased its position in 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 purchasing an additional 132,170 shares during the period. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Stock Performance

EGO stock opened at $41.96 on Monday. Eldorado Gold has a twelve month low of $24.44 and a twelve month high of $51.16. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.31 and a beta of 0.71. The business's fifty day simple moving average is $39.71 and its two-hundred day simple moving average is $35.27. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The firm had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. Analysts predict that Eldorado Gold will post 3.16 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.0750 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. Eldorado Gold's payout ratio is 10.64%.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Vancouver-based mid-tier gold producer focused on the exploration, development and operation of precious-metals mining assets. The company primarily produces gold, with some operations also generating silver, lead and zinc concentrates.

Eldorado Gold operates the Lamaque gold mine in Quebec, Canada; the Kisladag and Efemcukuru gold mines in Türkiye; and the Olympias polymetallic mine in northern Greece. The company is also advancing the Skouries project in Greece, a copper-gold development that is expected to expand its production profile.

Founded in 1996, Eldorado has built an international portfolio through acquisitions, exploration and mine development.

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