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

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $46.57.

Several equities research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Jefferies Financial Group assumed coverage on shares of Eldorado Gold in a report on Thursday, August 20th. They issued a “buy” rating and a $50.00 target price on the stock. Scotiabank dropped their target price on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their price target on shares of Eldorado Gold from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Finally, Weiss Ratings upgraded shares of Eldorado Gold from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 8th.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $38.11 on Monday. The stock has a market capitalization of $9.97 billion, a PE ratio of 13.51, a P/E/G ratio of 0.28 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. The business has a fifty day moving average price of $40.48 and a two-hundred day moving average price of $35.25. Eldorado Gold has a fifty-two week low of $24.44 and a fifty-two week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping 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. As a group, equities analysts predict that Eldorado Gold will post 3.16 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.0750 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.30 annualized dividend and a yield of 0.8%. Eldorado Gold’s dividend payout ratio is presently 10.64%.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Eldorado Gold during the 2nd quarter worth $587,469,000. Van ECK Associates Corp boosted its stake in Eldorado Gold by 39.0% in the second quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock valued at $580,739,000 after buying an additional 5,241,277 shares in the last quarter. L1 Capital Pty Ltd grew its position in Eldorado Gold by 35.2% in 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 last quarter. Donald Smith & CO. Inc. bought a new position in Eldorado Gold in the second quarter valued at about $272,580,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Eldorado Gold by 2.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock worth $199,274,000 after acquiring an additional 132,170 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company engaged in the exploration, development, construction and operation of gold mines. The company produces gold doré and concentrates, with its activities focused on operating and advancing assets in Türkiye, Greece and Canada.

Eldorado Gold’s principal producing operations include the Kisladag and Efemcukuru mines in Türkiye, the Olympias mine in northern Greece and the Lamaque mine in Quebec, Canada. The company is also advancing the Skouries project in Greece, a copper-gold development intended to produce both copper concentrate and gold.

The company traces its modern history to the 1990s and has expanded through exploration, mine development and acquisitions, including the acquisition of European Goldfields and Integra Gold.