Analysts Set Eldorado Gold Corporation (NYSE:EGO) Target Price at $43.71

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has been assigned a consensus rating of “Hold” from the ten analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $43.7143.

A number of equities research analysts have recently weighed in on EGO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st. TD Cowen decreased their price objective on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. Canadian Imperial Bank of Commerce cut Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price on the stock. in a research report on Friday, February 20th. Bank of America lifted their target price on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Monday, December 1st. Finally, TD Securities decreased their price target on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th.

Eldorado Gold Stock Down 5.4%

EGO stock opened at $36.73 on Thursday. The stock has a market cap of $7.29 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.13 and a beta of 0.51. The firm’s 50-day simple moving average is $42.63 and its 200 day simple moving average is $33.98. Eldorado Gold has a fifty-two week low of $14.96 and a fifty-two week high of $51.16. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The firm had revenue of $575.14 million for the quarter, compared to analyst estimates of $500.42 million. As a group, sell-side analysts predict that Eldorado Gold will post 1.5 EPS for the current year.

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.30 annualized dividend and a yield of 0.8%. Eldorado Gold’s dividend payout ratio is presently 12.10%.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently bought and sold shares of EGO. Van ECK Associates Corp raised its position in shares of Eldorado Gold by 33.9% during the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after buying an additional 4,173,963 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Eldorado Gold by 228.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,994,328 shares of the basic materials company’s stock valued at $101,649,000 after acquiring an additional 3,472,504 shares in the last quarter. L1 Capital Pty Ltd increased its stake in shares of Eldorado Gold by 35.2% during the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after acquiring an additional 2,512,168 shares during the period. Mackenzie Financial Corp increased its stake in shares of Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock valued at $65,322,000 after acquiring an additional 1,631,373 shares during the period. Finally, Millennium Management LLC raised its holdings in Eldorado Gold by 490.6% during the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after purchasing an additional 1,484,503 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

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.