Eldorado Gold Corporation (NYSE:EGO) Short Interest Update

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) was the target of a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 6,891,969 shares, a decline of 35.4% from the April 15th total of 10,669,593 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average trading volume of 4,567,276 shares, the short-interest ratio is presently 1.5 days.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank Of Canada lowered Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target on the stock. in a research report on Tuesday, February 17th. Citigroup lowered Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. ATB Cormark Capital Markets lowered Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. Scotiabank reduced their price target on Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 21st. Finally, National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.50.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock opened at $30.30 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $34.30 and a two-hundred day moving average price of $36.03. Eldorado Gold has a 1-year low of $18.40 and a 1-year high of $51.16. The company has a market cap of $7.91 billion, a P/E ratio of 10.78, a PEG ratio of 0.18 and a beta of 0.56.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%.The company had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. As a group, analysts anticipate that Eldorado Gold will post 4.27 EPS for the current year.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 1.0%. Eldorado Gold’s dividend payout ratio is presently 10.68%.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Montrusco Bolton Investments Inc. boosted its position in shares of Eldorado Gold by 41.1% during the 3rd 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 boosted its position in shares of Eldorado Gold by 29.2% during the 3rd quarter. Ruffer LLP now owns 1,412,740 shares of the basic materials company’s stock valued at $40,814,000 after purchasing an additional 319,187 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Eldorado Gold by 11.8% during the 3rd 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. TT International Asset Management LTD boosted its position in shares of Eldorado Gold by 1,730.9% during the 4th quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock valued at $26,916,000 after purchasing an additional 710,290 shares in the last quarter. Finally, Sprott Inc. boosted its position in shares of Eldorado Gold by 3.1% during the 3rd 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. Institutional investors 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.