Eldorado Gold (NYSE:EGO) Stock Falls 5.5% - What's Next?

Key Points

• Eldorado Gold shares fell 5.5% to $33.555 during Wednesday midday trading, on volume 72% below its daily average.
• Analysts have a Moderate Buy consensus and an average price target of $46.57, though recent ratings ranged from strong buy to sell.
• The company’s latest quarterly results missed expectations: earnings were $0.49 per share versus $0.53 estimated, and revenue was $511.9 million versus $621.9 million expected. Eldorado also declared a quarterly dividend of $0.075 per share.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD shares fell 5.5% during mid-day trading on Wednesday. The company traded as low as $33.71 and last traded at $33.5550. Approximately 832,930 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,025,791 shares. The stock had previously closed at $35.51.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded Eldorado Gold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. Jefferies Financial Group started coverage on shares of Eldorado Gold in a research note on Thursday, August 20th. They issued a "buy" rating and a $50.00 target price for the company. Wall Street Zen downgraded shares of Eldorado Gold from a "hold" rating to a "sell" rating in a report on Saturday, October 31st. Stifel Nicolaus raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, July 31st. Finally, Zacks Research cut shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.57.

Eldorado Gold Price Performance

The business has a fifty day moving average price of $38.08 and a 200-day moving average price of $36.63. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $8.75 billion, a PE ratio of 11.15, a PEG ratio of 0.39 and a beta of 0.67.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The firm had revenue of $511.90 million for the quarter, compared to analysts' expectations of $621.90 million. Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. Research analysts expect that Eldorado Gold Corporation will post 2.69 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, December 1st. Eldorado Gold's dividend payout ratio (DPR) is presently 10.00%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EGO. Commonwealth Equity Services LLC boosted its stake in shares of Eldorado Gold by 4.8% during the third quarter. Commonwealth Equity Services LLC now owns 7,895 shares of the basic materials company's stock valued at $304,000 after purchasing an additional 360 shares during the period. Continuum Advisory LLC bought a new position in shares of Eldorado Gold during the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its stake in Eldorado Gold by 8.7% during the first quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company's stock valued at $351,000 after buying an additional 819 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Eldorado Gold by 217.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company's stock worth $50,000 after purchasing an additional 887 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Eldorado Gold by 977.4% in the third quarter. Parallel Advisors LLC now owns 1,142 shares of the basic materials company's stock worth $44,000 after buying an additional 1,036 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company headquartered in Vancouver, British Columbia. It explores for, develops and operates mineral properties, with gold as its primary product and silver and base metals also produced at some of its mines. The company's portfolio spans Canada, Greece and Turkey. Its operations include the Lamaque Complex in Quebec, the Kisladag and Efemcukuru mines in Turkey, and the Olympias mine in Greece. Eldorado is also developing the Skouries copper-gold project in Greece.

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