Brokerages Set Eldorado Gold Corporation (NYSE:EGO) Target Price at $44.50

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have been given a consensus rating of “Hold” by the thirteen research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $44.50.

A number of research firms recently weighed in on EGO. Scotiabank lowered their price objective on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. TD Securities lowered their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently bought and sold shares of the business. Montrusco Bolton Investments Inc. lifted its holdings in Eldorado Gold by 41.1% in the third quarter. Montrusco Bolton Investments Inc. now owns 356,975 shares of the basic materials company’s stock valued at $10,311,000 after acquiring an additional 103,975 shares during the period. Gabelli Funds LLC lifted its holdings in Eldorado Gold by 11.8% in the third quarter. Gabelli Funds LLC now owns 1,342,600 shares of the basic materials company’s stock valued at $38,788,000 after acquiring an additional 141,900 shares during the period. TT International Asset Management LTD lifted its holdings in Eldorado Gold by 1,730.9% in the fourth quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock valued at $26,916,000 after acquiring an additional 710,290 shares during the period. Sprott Inc. lifted its holdings in Eldorado Gold by 3.1% in the third quarter. Sprott Inc. now owns 1,915,378 shares of the basic materials company’s stock valued at $55,335,000 after acquiring an additional 58,013 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in Eldorado Gold by 94.9% in the third quarter. Schroder Investment Management Group now owns 1,448,558 shares of the basic materials company’s stock valued at $41,240,000 after acquiring an additional 705,140 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Shares of EGO opened at $29.65 on Friday. The company’s 50 day simple moving average is $32.22 and its 200-day simple moving average is $36.68. Eldorado Gold has a 12-month low of $19.56 and a 12-month high of $51.16. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.74 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 0.18 and a beta of 0.58.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The firm had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. As a group, equities analysts predict that Eldorado Gold will post 4.27 EPS for the current year.

Eldorado Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 1.0%. Eldorado Gold’s dividend payout ratio (DPR) is 10.68%.

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.