Eldorado Gold (NYSE:EGO) Shares Gap Down – Should You Sell?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) gapped down prior to trading on Thursday . The stock had previously closed at $36.13, but opened at $33.59. Eldorado Gold shares last traded at $34.9940, with a volume of 177,782 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EGO. Royal Bank Of Canada downgraded shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target for the company. in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price target on the stock. in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st. TD Cowen reduced their target price on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, February 24th. Finally, Scotiabank decreased their target price on shares of Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 25th. Three investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.71.

Eldorado Gold Stock Up 0.1%

The company has a market cap of $7.12 billion, a P/E ratio of 14.45, a PEG ratio of 0.15 and a beta of 0.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46. The business’s 50 day moving average price is $40.70 and its 200-day moving average price is $34.79.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, February 19th. The basic materials company reported $0.63 EPS 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 for the quarter, compared to the consensus estimate of $500.42 million. On average, analysts anticipate that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

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

Hedge Funds Weigh In On Eldorado Gold

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Eldorado Gold during the 4th quarter worth approximately $98,000. Mackenzie Financial Corp lifted its stake in shares of Eldorado Gold by 904.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock valued at $65,322,000 after purchasing an additional 1,631,373 shares during the period. Empowered Funds LLC acquired a new position in shares of Eldorado Gold in the 4th quarter valued at $3,499,000. XTX Topco Ltd boosted its position in shares of Eldorado Gold by 17.4% in the 4th quarter. XTX Topco Ltd now owns 12,941 shares of the basic materials company’s stock worth $465,000 after purchasing an additional 1,919 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Eldorado Gold by 285.1% during the fourth quarter. Quadrature Capital Ltd now owns 150,200 shares of the basic materials company’s stock worth $5,405,000 after purchasing an additional 111,200 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.