Eldorado Gold (NYSE:EGO) Stock Price Down 5.5% – Here’s Why

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD)’s stock price dropped 5.5% on Wednesday. The stock traded as low as $33.71 and last traded at $33.5550. 832,930 shares changed hands during trading, a decline of 72% from the average session volume of 3,025,791 shares. The stock had previously closed at $35.51.

Wall Street Analyst Weigh In

EGO has been the subject of several research analyst reports. Royal Bank Of Canada upped their target price on shares of Eldorado Gold from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Wall Street Zen lowered shares of Eldorado Gold from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Stifel Nicolaus raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Finally, Canaccord Genuity Group lowered Eldorado Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.57.

Eldorado Gold Stock Down 0.1%

The business’s fifty day moving average price is $37.66 and its 200 day moving average price is $36.49. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.37 and a beta of 0.67. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. The business had revenue of $511.90 million during the quarter, compared to analyst estimates of $621.90 million. On average, equities analysts expect that Eldorado Gold Corporation will post 2.56 EPS for the current year.

Eldorado Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 1st. Eldorado Gold’s dividend payout ratio (DPR) is 10.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its position in Eldorado Gold by 4.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,895 shares of the basic materials company’s stock valued at $304,000 after buying an additional 360 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Eldorado Gold by 10.1% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 6,538 shares of the basic materials company’s stock valued at $252,000 after acquiring an additional 598 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of Eldorado Gold during the second quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Eldorado Gold by 8.7% during the first quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 819 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Eldorado Gold by 217.4% during the third quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 887 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company headquartered in Vancouver, British Columbia. It explores for, develops and operates mineral properties, with gold as its primary product and silver and base metals also produced at some of its mines. The company’s portfolio spans Canada, Greece and Turkey. Its operations include the Lamaque Complex in Quebec, the Kisladag and Efemcukuru mines in Turkey, and the Olympias mine in Greece. Eldorado is also developing the Skouries copper-gold project in Greece.