Eldorado Gold (NYSE:EGO) Shares Gap Down - Time to Sell?

Key Points

• Eldorado Gold shares fell 5.6%, opening at $39.35 versus a prior close of $41.92. The stock recently traded near $39.90.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $46.57. Recent targets range from $41 to $54, while several firms upgraded the stock to “Buy.”
• The company beat quarterly EPS estimates ($0.54 versus $0.52) but reported revenue below expectations, at $487.5 million versus $529.9 million. Eldorado also pays a quarterly dividend of $0.075, representing a 0.8% annual yield.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD shares gapped down prior to trading on Monday. The stock had previously closed at $41.92, but opened at $39.35. Eldorado Gold shares last traded at $39.8950, with a volume of 264,393 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on EGO shares. Stifel Nicolaus upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, July 31st. 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 note on Tuesday, July 14th. Bank of America upgraded shares of Eldorado Gold from an "underperform" rating to a "buy" rating and boosted their target price for the company from $32.00 to $54.00 in a report on Tuesday, September 22nd. Jefferies Financial Group assumed coverage on shares of 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, Royal Bank Of Canada raised their price target on shares of Eldorado Gold from $37.00 to $41.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.57.

Eldorado Gold Trading Down 5.6%

The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The company has a 50 day moving average price of $39.71 and a 200 day moving average price of $35.27.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $529.92 million. On average, research analysts expect that Eldorado Gold Corporation will post 3.16 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 1st. Eldorado Gold's dividend payout ratio is currently 10.64%.

Institutional Trading of Eldorado Gold

Institutional investors have recently added to or reduced their stakes in the stock. Continuum Advisory LLC purchased a new position in shares of Eldorado Gold during the second quarter worth $25,000. EFG International AG acquired a new position in Eldorado Gold during the 2nd quarter worth about $62,000. Caitong International Asset Management Co. Ltd purchased a new position in Eldorado Gold during the 4th quarter valued at about $98,000. Nykredit A S purchased a new position in Eldorado Gold during the 2nd quarter valued at about $143,000. Finally, HighTower Advisors LLC acquired a new position in Eldorado Gold in the 2nd quarter valued at about $239,000. Institutional investors and hedge funds own 69.58% of the company's stock.

About Eldorado Gold

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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