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

Key Points

• Eldorado Gold has a consensus “Hold” rating from 14 brokerages: eight holds, three buys, one strong buy and two sells. The average 12-month price target is $41.83.
• Recent analyst views were mixed, including a Zacks downgrade to “strong sell,” while National Bank Financial upgraded the stock to “strong buy”; other firms also lowered or raised their price targets.
• The company reported quarterly EPS of $0.54, slightly above the $0.52 estimate, but revenue of $487.5 million fell short of the $529.9 million consensus. Eldorado Gold also declared a quarterly dividend of $0.075 per share, equal to a 0.8% annualized yield.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD has received an average rating of "Hold" from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $41.8333.

Several equities research analysts recently weighed in on EGO shares. Zacks Research cut Eldorado Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research note on Wednesday, April 15th. TD Cowen lowered their price objective on Eldorado Gold from $45.00 to $40.00 and set a "hold" rating for the company in a research report on Tuesday, April 14th. Royal Bank Of Canada cut their target price on shares of Eldorado Gold from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Thursday, July 9th. Finally, Bank of America lifted their target price on shares of Eldorado Gold from $31.00 to $33.00 and gave the stock an "underperform" rating in a research note on Thursday, July 9th.

Eldorado Gold Stock Performance

NYSE EGO opened at $37.92 on Friday. The company has a 50-day simple moving average of $31.60 and a two-hundred day simple moving average of $35.61. Eldorado Gold has a 12-month low of $21.54 and a 12-month high of $51.16. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.28 and a beta of 0.63. 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 released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 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 for the quarter, compared to the consensus estimate of $529.92 million. On average, equities analysts forecast that Eldorado Gold will post 3.2 EPS for the current year.

Eldorado Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Eldorado Gold's dividend payout ratio is 10.64%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. TT International Asset Management LTD grew its position in shares of Eldorado Gold by 1,730.9% in the 4th quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company's stock worth $26,916,000 after buying an additional 710,290 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Eldorado Gold during the fourth quarter valued at approximately $3,214,000. U S Global Investors Inc. bought a new position in shares of Eldorado Gold during the fourth quarter valued at approximately $1,796,000. Burney Co. purchased a new stake in Eldorado Gold in the fourth quarter worth $2,506,000. Finally, Pictet Asset Management Holding SA lifted its stake in Eldorado Gold by 255.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 123,176 shares of the basic materials company's stock worth $4,427,000 after acquiring an additional 88,508 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

Eldorado Gold Company Profile

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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