Eldorado Gold Corporation (EGO) to Issue Quarterly Dividend of $0.07 on September 15th

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.075 per share by the basic materials company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st.

Eldorado Gold has a payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Eldorado Gold to earn $5.05 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 5.9%.

Eldorado Gold Trading Down 5.3%

Shares of Eldorado Gold stock opened at $45.48 on Friday. The company has a 50-day moving average of $34.89 and a two-hundred day moving average of $35.53. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The stock has a market cap of $11.88 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 0.33 and a beta of 0.63. Eldorado Gold has a 12-month low of $23.95 and a 12-month high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted 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. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%.The company had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. On average, research analysts anticipate that Eldorado Gold will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EGO shares. ATB Cormark Capital Markets cut Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Bank of America increased their target price on Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Citigroup lowered shares of Eldorado Gold to a “sector perform” rating in a report on Monday, May 4th. Royal Bank Of Canada cut their price objective on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Finally, Scotiabank lowered their price target on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and an average target price of $43.00.

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.