Eldorado Gold Corporation (NYSE:EGO) Given Average Recommendation of “Hold” by Brokerages

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $43.7143.

EGO has been the topic of a number of research analyst reports. TD Cowen lowered their price objective on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings restated 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. TD Securities dropped their price objective on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, February 24th. Finally, Scotiabank cut their price objective on Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 25th.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in shares of Eldorado Gold in the 2nd quarter worth approximately $32,000. Smartleaf Asset Management LLC bought a new stake in Eldorado Gold during the fourth quarter worth approximately $33,000. Aventura Private Wealth LLC bought a new stake in Eldorado Gold during the fourth quarter worth approximately $36,000. Flagship Harbor Advisors LLC acquired a new position in Eldorado Gold in the fourth quarter worth approximately $36,000. Finally, Wexford Capital LP acquired a new position in Eldorado Gold in the third quarter worth approximately $37,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

EGO stock opened at $40.83 on Thursday. The company has a 50-day simple moving average of $42.54 and a 200 day simple moving average of $33.78. The company has a market capitalization of $8.11 billion, a P/E ratio of 16.47, a PEG ratio of 0.15 and a beta of 0.51. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29. Eldorado Gold has a fifty-two week low of $14.13 and a fifty-two week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its 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 company had revenue of $575.14 million for the quarter, compared to analyst estimates of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. Sell-side analysts predict that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.075 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.30 annualized dividend and a yield of 0.7%. Eldorado Gold’s payout ratio is 12.10%.

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.