Eldorado Gold Corporation (NYSE:EGO) Plans $0.07 Quarterly Dividend

Key Points

• Eldorado Gold announced a quarterly dividend of $0.075 per share, payable September 15 to shareholders of record on September 1. The dividend implies an annualized payout of $0.30 per share and a 1.0% yield.
• The company reported quarterly EPS of $0.54, slightly above analysts’ $0.52 estimate, while revenue of $487.5 million fell short of the $529.9 million consensus forecast.
• Shares fell $2.03 to $30.71 in mid-day trading, and institutional investors hold 69.58% of Eldorado Gold’s outstanding stock.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Tuesday, September 1st will be paid a dividend of 0.075 per share by the basic materials company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st.

Eldorado Gold has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eldorado Gold to earn $5.33 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 5.6%.

Eldorado Gold Price Performance

Shares of EGO stock traded down $2.03 during mid-day trading on Friday, hitting $30.71. 3,566,049 shares of the stock traded hands, compared to its average volume of 2,850,231. Eldorado Gold has a twelve month low of $20.39 and a twelve month high of $51.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. The company's 50-day simple moving average is $31.38 and its 200-day simple moving average is $35.85. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.22 and a beta of 0.62.

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, topping analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $487.50 million for the quarter, compared to analysts' expectations of $529.92 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. As a group, equities research analysts expect that Eldorado Gold will post 3.41 earnings per share for the current year.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds have recently added to or reduced their stakes in the company. L1 Capital Pty Ltd boosted its position in shares of Eldorado Gold by 35.2% in 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 purchasing an additional 2,512,168 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Eldorado Gold by 904.1% during the fourth 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. Millennium Management LLC raised its stake in shares of Eldorado Gold by 490.6% in the 4th quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company's stock valued at $64,193,000 after purchasing an additional 1,484,503 shares during the period. FIL Ltd acquired a new stake in Eldorado Gold in the 4th quarter valued at approximately $35,473,000. Finally, Cape Ann Asset Management Ltd acquired a new stake in shares of Eldorado Gold in the first quarter valued at approximately $26,045,000. Institutional investors own 69.58% of the company's stock.

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.

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