Eldorado Gold Corporation (NYSE:EGO) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Eldorado Gold has a consensus analyst rating of "Hold" from 13 brokerages, with an average 12-month price target of about $41.83.
• Recent analyst actions were mixed but leaned cautious, including multiple rating downgrades and target price cuts from firms such as Royal Bank of Canada, TD Cowen, and ATB Cormark.
• The company posted strong quarterly results, with EPS of $0.95 beating estimates and revenue of $532.43 million above expectations, while also paying a quarterly dividend of $0.075 per share.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD has earned a consensus rating of "Hold" from the thirteen brokerages that are currently covering the firm, 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 issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $41.8333.

A number of equities analysts recently issued reports on EGO shares. Royal Bank Of Canada dropped their price target on shares of Eldorado Gold from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 9th. Bank of America raised their price objective on shares of Eldorado Gold from $31.00 to $33.00 and gave the company an "underperform" rating in a research note on Thursday, July 9th. Weiss Ratings cut shares of Eldorado Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, June 11th. TD Cowen dropped their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a "hold" rating on the stock in a research note on Tuesday, April 14th. Finally, 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.

Institutional Trading of Eldorado Gold

Several institutional investors have recently added to or reduced their stakes in EGO. Linden Thomas Advisory Services LLC boosted its stake in shares of Eldorado Gold by 4.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,896 shares of the basic materials company's stock worth $284,000 after acquiring an additional 318 shares during the period. Savant Capital LLC raised its stake in Eldorado Gold by 2.7% during the 4th quarter. Savant Capital LLC now owns 14,135 shares of the basic materials company's stock valued at $508,000 after purchasing an additional 371 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Eldorado Gold by 0.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company's stock valued at $1,794,000 after purchasing an additional 582 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Eldorado Gold by 8.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company's stock worth $351,000 after purchasing an additional 819 shares in the last quarter. Finally, Smartleaf Asset Management LLC purchased a new position in Eldorado Gold in the 4th quarter worth approximately $33,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Stock Up 1.3%

Shares of NYSE:EGO opened at $29.51 on Wednesday. The stock has a fifty day simple moving average of $31.92 and a two-hundred day simple moving average of $36.36. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 0.17 and a beta of 0.62. Eldorado Gold has a 12-month low of $19.70 and a 12-month high of $51.16. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.69 by $0.26. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%.The business had revenue of $532.43 million for the quarter, compared to the consensus estimate of $503.31 million. On average, research analysts anticipate that Eldorado Gold will post 3.92 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, June 2nd. Eldorado Gold's payout ratio is presently 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.

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