Eldorado Gold Corporation (EGO) To Go Ex-Dividend on June 2nd

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) announced a quarterly dividend on Thursday, April 30th. Shareholders of record on Tuesday, June 2nd will be paid a dividend of 0.075 per share by the basic materials company on Tuesday, June 16th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 2nd.

Eldorado Gold has a dividend payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Eldorado Gold to earn $6.10 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 4.9%.

Eldorado Gold Stock Up 2.9%

Shares of NYSE:EGO opened at $33.87 on Friday. Eldorado Gold has a 52 week low of $19.56 and a 52 week high of $51.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. The company has a market capitalization of $8.84 billion, a PE ratio of 12.05, a PEG ratio of 0.20 and a beta of 0.56. The company has a 50 day moving average price of $33.26 and a two-hundred day moving average price of $36.31.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on EGO. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. Canaccord Genuity Group downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Weiss Ratings downgraded shares of Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 7th. Finally, TD Securities lowered their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Eldorado Gold currently has a consensus rating of “Hold” and an average target price of $44.50.

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.