Eldorado Gold Corporation (NYSE:EGO) Announces Quarterly Dividend of $0.07

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) declared a quarterly dividend on Wednesday, October 28th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.0750 per share by the basic materials company on Tuesday, December 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 1st.

Eldorado Gold has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eldorado Gold to earn $4.82 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 6.2%.

Eldorado Gold Trading Down 5.8%

NYSE:EGO traded down $2.00 on Thursday, reaching $32.46. 6,615,075 shares of the company’s stock were exchanged, compared to its average volume of 2,945,029. The business has a fifty day moving average of $40.21 and a 200-day moving average of $36.99. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. Eldorado Gold has a 52-week low of $24.57 and a 52-week high of $51.16. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $511.90 million for the quarter, compared to analyst estimates of $621.90 million. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%. As a group, analysts expect that Eldorado Gold will post 3.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EGO shares. Jefferies Financial Group initiated coverage on Eldorado Gold in a research report on Thursday, August 20th. They issued a “buy” rating and a $50.00 price target for the company. Zacks Research downgraded Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Scotiabank lowered their price objective on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Bank of America upgraded shares of Eldorado Gold from an “underperform” rating to a “buy” rating and raised their target price for the company from $32.00 to $54.00 in a report on Tuesday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Eldorado Gold has an average rating of “Moderate Buy” and a consensus price target of $46.57.

About Eldorado Gold

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado’s operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.