Eldorado Gold (NYSE:EGO) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Canaccord Genuity Group cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. TD Cowen dropped their price target on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. Bank of America increased their price objective on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Monday, December 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada downgraded shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price on the stock. in a report on Tuesday, February 17th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Eldorado Gold has an average rating of “Hold” and an average price target of $43.71.

Eldorado Gold Trading Down 0.8%

Shares of Eldorado Gold stock opened at $35.83 on Tuesday. Eldorado Gold has a fifty-two week low of $15.30 and a fifty-two week high of $51.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. The company has a market capitalization of $7.12 billion, a P/E ratio of 14.45, a P/E/G ratio of 0.15 and a beta of 0.66. The company has a fifty day moving average of $40.91 and a 200 day moving average of $34.74.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The business had revenue of $575.14 million for the quarter, compared to the consensus estimate of $500.42 million. On average, sell-side analysts anticipate that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

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

Institutional Trading of Eldorado Gold

A number of large investors have recently added to or reduced their stakes in the company. Montrusco Bolton Investments Inc. grew its holdings in shares of Eldorado Gold by 41.1% in the third quarter. Montrusco Bolton Investments Inc. now owns 356,975 shares of the basic materials company’s stock valued at $10,311,000 after purchasing an additional 103,975 shares in the last quarter. Ruffer LLP increased its position in Eldorado Gold by 29.2% in the third quarter. Ruffer LLP now owns 1,412,740 shares of the basic materials company’s stock worth $40,814,000 after purchasing an additional 319,187 shares during the last quarter. Gabelli Funds LLC raised its stake in Eldorado Gold by 11.8% during the third quarter. Gabelli Funds LLC now owns 1,342,600 shares of the basic materials company’s stock valued at $38,788,000 after purchasing an additional 141,900 shares in the last quarter. Sprott Inc. raised its stake in Eldorado Gold by 3.1% during the third quarter. Sprott Inc. now owns 1,915,378 shares of the basic materials company’s stock valued at $55,335,000 after purchasing an additional 58,013 shares in the last quarter. Finally, Cibc World Market Inc. lifted its position in Eldorado Gold by 13.4% during the third quarter. Cibc World Market Inc. now owns 345,445 shares of the basic materials company’s stock valued at $9,974,000 after purchasing an additional 40,729 shares during the last quarter. 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.