Eldorado Gold (NYSE:EGO) Given New $45.00 Price Target at TD Cowen

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its target price cut by TD Cowen from $47.00 to $45.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

Other research analysts also recently issued research reports about the stock. National Bank Financial reiterated an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Scotiabank raised Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 26th. Bank of America boosted their price objective on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research report on Monday, December 1st. Canaccord Genuity Group lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Eldorado Gold currently has an average rating of “Hold” and a consensus target price of $40.14.

Eldorado Gold Stock Down 1.2%

Shares of Eldorado Gold stock opened at $43.40 on Tuesday. Eldorado Gold has a 12-month low of $13.30 and a 12-month high of $51.16. 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 stock has a 50 day moving average price of $41.07 and a two-hundred day moving average price of $32.30. The stock has a market capitalization of $8.62 billion, a P/E ratio of 17.50, a PEG ratio of 0.19 and a beta of 0.51.

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 analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million. Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%. Equities analysts expect that Eldorado Gold will post 1.5 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 27th.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Eldorado Gold by 50.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after acquiring an additional 266,048 shares during the period. Jennison Associates LLC raised its position in Eldorado Gold by 10.3% in the second quarter. Jennison Associates LLC now owns 7,990,223 shares of the basic materials company’s stock worth $162,521,000 after purchasing an additional 744,419 shares in the last quarter. Savant Capital LLC bought a new position in Eldorado Gold during the second quarter worth about $285,000. Harvest Portfolios Group Inc. boosted its holdings in Eldorado Gold by 12.3% during the second quarter. Harvest Portfolios Group Inc. now owns 43,440 shares of the basic materials company’s stock valued at $884,000 after purchasing an additional 4,754 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its stake in shares of Eldorado Gold by 2.6% in the 2nd quarter. Fox Run Management L.L.C. now owns 29,553 shares of the basic materials company’s stock valued at $601,000 after purchasing an additional 759 shares during the period. Institutional investors and hedge funds 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.