TD Cowen Cuts Eldorado Gold (NYSE:EGO) Price Target to $40.00

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective cut by TD Cowen from $45.00 to $40.00 in a report issued on Tuesday,Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

A number of other equities research analysts have also recently issued reports on EGO. Royal Bank Of Canada cut Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price for the company. in a research report on Tuesday, February 17th. TD Securities decreased their target price on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, January 21st. Canaccord Genuity Group cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Canadian Imperial Bank of Commerce cut Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.29.

Eldorado Gold Trading Down 1.8%

Shares of NYSE EGO opened at $34.12 on Tuesday. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.14 and a beta of 0.66. The business has a 50 day simple moving average of $39.27 and a 200 day simple moving average of $35.27. Eldorado Gold has a 52 week low of $17.18 and a 52 week high of $51.16. 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 announced its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $575.14 million during the quarter, compared to the consensus estimate of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. On average, research analysts predict that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.075 per share. The ex-dividend date was Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. Eldorado Gold’s payout ratio is 12.10%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EGO. Smartleaf Asset Management LLC acquired a new position in shares of Eldorado Gold in the fourth quarter valued at $33,000. Flagship Harbor Advisors LLC acquired a new position in shares of Eldorado Gold in the fourth quarter valued at $36,000. Aventura Private Wealth LLC acquired a new position in shares of Eldorado Gold in the fourth quarter valued at $36,000. Wexford Capital LP acquired a new position in shares of Eldorado Gold in the third quarter valued at $37,000. Finally, Headlands Technologies LLC acquired a new position in shares of Eldorado Gold in the second quarter valued at $32,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.