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

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

Other analysts also recently issued research reports about the company. Royal Bank Of Canada downgraded Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective for the company. in a research report on Tuesday, February 17th. Scotiabank lowered their price objective on Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 25th. Canaccord Genuity Group downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Canadian Imperial Bank of Commerce downgraded Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a report on Friday, February 20th. Finally, Zacks Research downgraded Eldorado Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.29.

Eldorado Gold Stock Performance

Shares of EGO stock opened at $36.32 on Tuesday. 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 has a fifty-two week low of $17.18 and a fifty-two week high of $51.16. The stock has a 50 day moving average price of $39.43 and a two-hundred day moving average price of $35.28. The company 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.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data 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). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The company had revenue of $575.14 million during the quarter, compared to the consensus estimate of $500.42 million. Analysts expect that Eldorado Gold will post 1.5 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 27th. Eldorado Gold’s dividend payout ratio is currently 12.10%.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in shares of Eldorado Gold by 33.9% during the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock valued at $476,679,000 after acquiring an additional 4,173,963 shares in the last quarter. L1 Capital Pty Ltd raised its holdings in shares of Eldorado Gold by 35.2% during the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after acquiring an additional 2,512,168 shares in the last quarter. Vanguard Group Inc. grew its stake in Eldorado Gold by 2.6% in the third quarter. Vanguard Group Inc. now owns 8,387,901 shares of the basic materials company’s stock worth $242,226,000 after purchasing an additional 209,947 shares during the period. Jennison Associates LLC grew its stake in Eldorado Gold by 2.3% in the third quarter. Jennison Associates LLC now owns 8,173,003 shares of the basic materials company’s stock worth $236,118,000 after purchasing an additional 182,780 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Eldorado Gold by 2.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock worth $199,274,000 after purchasing an additional 132,170 shares during the period. Institutional investors own 69.58% of the company’s stock.

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.