Eldorado Gold Corporation (NYSE:EGO) Receives Average Rating of “Buy” from Analysts

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have been assigned an average rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $31.20.

EGO has been the subject of several recent research reports. CIBC raised their price target on shares of Eldorado Gold from $32.00 to $46.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Bank of America upped their target price on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Monday, December 1st. Finally, Wall Street Zen downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in shares of Eldorado Gold by 10.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 278,300 shares of the basic materials company’s stock worth $5,669,000 after acquiring an additional 26,000 shares during the last quarter. American Century Companies Inc. grew its position in Eldorado Gold by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 1,146,359 shares of the basic materials company’s stock worth $23,332,000 after purchasing an additional 88,752 shares during the last quarter. TT International Asset Management LTD purchased a new position in Eldorado Gold during the 3rd quarter worth $1,186,000. Jennison Associates LLC increased its stake in Eldorado Gold by 10.3% in the second quarter. Jennison Associates LLC now owns 7,990,223 shares of the basic materials company’s stock valued at $162,521,000 after purchasing an additional 744,419 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Eldorado Gold in the second quarter valued at about $644,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Price Performance

NYSE:EGO opened at $48.22 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 2.28 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $35.99 and a two-hundred day moving average of $29.09. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $50.67. The firm has a market cap of $9.58 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 0.25 and a beta of 0.54.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). The company had revenue of $436.44 million for the quarter, compared to analyst estimates of $422.25 million. Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. On average, analysts expect that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.075 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%.

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.