Eldorado Gold Corporation (NYSE:EGO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $44.50.

Several research firms have recently commented on EGO. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a report on Wednesday, April 15th. ATB Cormark Capital Markets downgraded Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday. TD Securities decreased their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Citigroup downgraded Eldorado Gold to a “sector perform” rating in a report on Monday. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th.

Eldorado Gold Stock Up 1.5%

EGO opened at $29.27 on Friday. The company has a market cap of $5.81 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.17 and a beta of 0.56. The business’s 50-day moving average price is $36.34 and its 200-day moving average price is $35.58. The company has a current ratio of 1.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.29. Eldorado Gold has a 12 month low of $17.18 and a 12 month high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.69 by $0.26. The firm had revenue of $532.43 million for the quarter, compared to the consensus estimate of $503.31 million. Eldorado Gold had a return on equity of 11.72% and a net margin of 28.62%. On average, equities analysts expect that Eldorado Gold will post 4.36 EPS for the current year.

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be issued a $0.075 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 1.0%. Eldorado Gold’s payout ratio is currently 10.68%.

Institutional Trading of Eldorado Gold

Several large investors have recently modified their holdings of EGO. Van ECK Associates Corp grew its stake in shares of Eldorado Gold by 33.9% in the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after purchasing an additional 4,173,963 shares during the last quarter. L1 Capital Pty Ltd grew its stake in shares of 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 during the last quarter. Mackenzie Financial Corp grew its stake in shares of Eldorado Gold by 904.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after purchasing an additional 1,631,373 shares during the last quarter. Millennium Management LLC grew its stake in shares of Eldorado Gold by 490.6% in the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after purchasing an additional 1,484,503 shares during the last quarter. Finally, FIL Ltd bought a new stake in shares of Eldorado Gold in the fourth quarter worth about $35,473,000. 69.58% of the stock is owned by institutional investors.

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.