Eldorado Gold (NYSE:EGO) Price Target Cut to $40.00 by Analysts at TD Cowen

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

Several other brokerages have also commented on EGO. Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Royal Bank Of Canada lowered shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective for the company. in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective for the company. in a report on Friday, February 20th. TD Securities decreased their price objective on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. Finally, Scotiabank decreased their price objective on shares of Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.29.

Eldorado Gold Trading Down 1.5%

Shares of EGO opened at $36.32 on Tuesday. The stock has a market capitalization of $7.21 billion, a P/E ratio of 14.65, a PEG ratio of 0.15 and a beta of 0.66. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $39.43 and a two-hundred day simple moving average of $35.28. Eldorado Gold has a twelve month low of $17.18 and a twelve month high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $575.14 million for the quarter, compared to analysts’ expectations 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 anticipate that Eldorado Gold will post 1.5 EPS for the current year.

Eldorado Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 27th. Eldorado Gold’s dividend payout ratio (DPR) is presently 12.10%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in shares of Eldorado Gold in the 2nd quarter worth about $32,000. Smartleaf Asset Management LLC bought a new position in shares of Eldorado Gold in the 4th quarter worth about $33,000. Aventura Private Wealth LLC bought a new position in shares of Eldorado Gold in the 4th quarter worth about $36,000. Flagship Harbor Advisors LLC bought a new position in shares of Eldorado Gold in the 4th quarter worth about $36,000. Finally, Wexford Capital LP bought a new position in shares of Eldorado Gold in the 3rd quarter worth about $37,000. 69.58% of the stock is currently 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.