Eldorado Gold Corporation (NYSE:EGO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have received a consensus rating of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $44.50.

A number of research firms recently commented on EGO. Weiss Ratings lowered Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 7th. ATB Cormark Capital Markets downgraded Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. Zacks Research downgraded Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Canadian Imperial Bank of Commerce downgraded Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price target for the company. in a research report on Friday, February 20th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 15th.

Hedge Funds Weigh In On Eldorado Gold

A number of large investors have recently modified their holdings of EGO. Montrusco Bolton Investments Inc. increased its stake in Eldorado Gold by 41.1% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 356,975 shares of the basic materials company’s stock worth $10,311,000 after purchasing an additional 103,975 shares during the period. Ruffer LLP increased its stake in Eldorado Gold by 29.2% in the 3rd quarter. Ruffer LLP now owns 1,412,740 shares of the basic materials company’s stock worth $40,814,000 after purchasing an additional 319,187 shares during the period. Gabelli Funds LLC increased its stake in Eldorado Gold by 11.8% in the 3rd quarter. Gabelli Funds LLC now owns 1,342,600 shares of the basic materials company’s stock worth $38,788,000 after purchasing an additional 141,900 shares during the period. TT International Asset Management LTD increased its stake in shares of Eldorado Gold by 1,730.9% during the fourth quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock valued at $26,916,000 after buying an additional 710,290 shares during the period. Finally, Sprott Inc. increased its stake in shares of Eldorado Gold by 3.1% during the third quarter. Sprott Inc. now owns 1,915,378 shares of the basic materials company’s stock valued at $55,335,000 after buying an additional 58,013 shares during the period. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $33.87 on Tuesday. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.20 and a beta of 0.56. Eldorado Gold has a 52-week low of $19.56 and a 52-week high of $51.16. The stock’s 50 day moving average price is $33.26 and its two-hundred day moving average price is $36.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. The company had revenue of $532.43 million for the quarter, compared to analysts’ expectations of $503.31 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. On average, equities analysts predict that Eldorado Gold will post 4.27 earnings per share for the current year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio (DPR) is 10.68%.

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.