Eldorado Gold (NYSE:EGO) Stock Price Up 10.9% – Time to Buy?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) shares traded up 10.9% on Wednesday . The stock traded as high as $35.51 and last traded at $35.30. 781,055 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 2,844,450 shares. The stock had previously closed at $31.82.

Analysts Set New Price Targets

EGO has been the topic of several analyst reports. Zacks Research downgraded Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. TD Cowen reduced 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 note on Tuesday, April 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Citigroup lowered shares of Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. Finally, National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eldorado Gold currently has a consensus rating of “Hold” and a consensus price target of $41.83.

Eldorado Gold Price Performance

The company has a market cap of $9.51 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.22 and a beta of 0.63. The company has a fifty day moving average price of $31.36 and a two-hundred day moving average price of $35.66. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. As a group, equities research analysts anticipate that Eldorado Gold Corporation will post 3.41 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.64%.

Institutional Investors Weigh In On Eldorado Gold

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC acquired a new position in shares of Eldorado Gold in the 4th quarter worth approximately $33,000. Flagship Harbor Advisors LLC acquired a new position in Eldorado Gold during the fourth quarter worth $36,000. Wexford Capital LP bought a new position in shares of Eldorado Gold during the third quarter valued at $37,000. Headlands Technologies LLC acquired a new stake in shares of Eldorado Gold in the 2nd quarter valued at $32,000. Finally, EFG International AG bought a new stake in shares of Eldorado Gold in the 4th quarter worth about $72,000. 69.58% of the stock is currently owned by institutional investors.

About Eldorado Gold

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.