Eldorado Gold (NYSE:EGO) Shares Gap Down – Time to Sell?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $36.13, but opened at $33.59. Eldorado Gold shares last traded at $34.9940, with a volume of 177,782 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EGO shares. Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Zacks Research cut shares of Eldorado Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Canadian Imperial Bank of Commerce downgraded shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price target for the company. in a report on Friday, February 20th. Scotiabank reduced their price objective on Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.71.

Eldorado Gold Trading Down 0.7%

The stock has a fifty day moving average of $41.10 and a 200-day moving average of $34.73. The company has a market cap of $7.13 billion, a PE ratio of 14.44, a PEG ratio of 0.14 and a beta of 0.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83.

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

Eldorado Gold Dividend Announcement

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

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Eldorado Gold by 33.9% during the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock valued at $476,679,000 after purchasing an additional 4,173,963 shares in the last quarter. L1 Capital Pty Ltd raised its holdings 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 worth $346,283,000 after purchasing an additional 2,512,168 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Eldorado Gold by 2.6% during the third quarter. Vanguard Group Inc. now owns 8,387,901 shares of the basic materials company’s stock valued at $242,226,000 after buying an additional 209,947 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Eldorado Gold by 2.3% during the third quarter. Jennison Associates LLC now owns 8,173,003 shares of the basic materials company’s stock valued at $236,118,000 after buying an additional 182,780 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Eldorado Gold by 2.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock valued at $199,274,000 after buying an additional 132,170 shares in the last quarter. 69.58% of the stock is owned by institutional investors.

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.