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

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has received an average recommendation of “Hold” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $43.00.

A number of research firms recently weighed in on EGO. 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. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada decreased their target price on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Scotiabank dropped their price target on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a report on Sunday, August 9th.

Institutional Trading of Eldorado Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC purchased a new position in shares of Eldorado Gold during the 2nd quarter worth $239,000. TD Waterhouse Canada Inc. boosted its position in shares of Eldorado Gold by 222.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,460 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 6,530 shares during the last quarter. Continuum Advisory LLC purchased a new stake in shares of Eldorado Gold in the second quarter valued at about $25,000. Nykredit A S purchased a new stake in shares of Eldorado Gold in the second quarter valued at about $143,000. Finally, Headlands Technologies LLC acquired a new stake in Eldorado Gold during the second quarter worth about $350,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Stock Up 0.0%

NYSE EGO opened at $43.03 on Thursday. The business has a fifty day moving average price of $36.38 and a 200 day moving average price of $35.39. Eldorado Gold has a one year low of $24.44 and a one year high of $51.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The company has a market cap of $11.24 billion, a P/E ratio of 15.26, a P/E/G ratio of 0.32 and a beta of 0.71.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The company had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. Research analysts anticipate that Eldorado Gold will post 3.23 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. Eldorado Gold’s payout ratio is 10.64%.

Eldorado Gold Company Profile

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.