Eldorado Gold (NYSE:EGO) Price Target Lowered to $56.00 at Scotiabank

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price trimmed by Scotiabank from $58.00 to $56.00 in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm currently has a sector outperform rating on the basic materials company’s stock.

Several other analysts have also recently weighed in on the stock. Canadian Imperial Bank of Commerce cut shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective on the stock. in a research note on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, January 21st. Royal Bank Of Canada cut shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective on the stock. in a research note on Tuesday, February 17th. BMO Capital Markets restated an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 15th. Finally, TD Securities dropped their price target on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Eldorado Gold currently has a consensus rating of “Hold” and an average price target of $42.00.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $31.86 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 52 week low of $17.18 and a 52 week high of $51.16. The firm has a market cap of $6.33 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.15 and a beta of 0.66. The firm’s fifty day moving average is $38.77 and its 200-day moving average is $35.45.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued 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 return on equity of 8.63% and a net margin of 27.89%.The business had revenue of $575.14 million during the quarter, compared to the consensus estimate of $500.42 million. Sell-side analysts predict that Eldorado Gold will post 4.63 earnings per share for the current year.

Eldorado Gold Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Eldorado Gold during the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC acquired a new position in shares of Eldorado Gold during the 4th quarter valued at $33,000. Aventura Private Wealth LLC acquired a new position in shares of Eldorado Gold during the 4th quarter valued at $36,000. Flagship Harbor Advisors LLC acquired a new position in shares of Eldorado Gold during the 4th quarter valued at $36,000. Finally, Wexford Capital LP acquired a new position in shares of Eldorado Gold during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

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.