Eldorado Gold (NYSE:EGO) Shares Down 7.4% – What’s Next?

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) were down 7.4% during trading on Wednesday . The company traded as low as $30.02 and last traded at $29.6540. Approximately 361,774 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 2,937,498 shares. The stock had previously closed at $32.02.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America boosted their price objective on shares of Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a research note on Thursday. Scotiabank lowered their target price on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 21st. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Citigroup lowered shares of Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.33.

Eldorado Gold Trading Up 3.1%

The stock has a market cap of $8.00 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.17 and a beta of 0.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. The stock has a 50-day moving average price of $31.94 and a 200-day moving average price of $36.52.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.26. The company had revenue of $532.43 million for the quarter, compared to analysts’ expectations of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. On average, equities research analysts expect that Eldorado Gold Corporation will post 4.27 EPS for the current year.

Eldorado Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 2nd. Eldorado Gold’s payout ratio is currently 10.68%.

Institutional Trading of Eldorado Gold

Several institutional investors and hedge funds have recently made changes to their positions in EGO. Smartleaf Asset Management LLC bought a new stake in shares of Eldorado Gold during the 4th quarter worth $33,000. Flagship Harbor Advisors LLC bought a new position in Eldorado Gold in the fourth quarter valued at $36,000. Aventura Private Wealth LLC purchased a new stake in Eldorado Gold during the fourth quarter valued at about $36,000. Wexford Capital LP purchased a new stake in Eldorado Gold during the third quarter valued at about $37,000. Finally, Headlands Technologies LLC bought a new stake in Eldorado Gold during the second quarter worth about $32,000. Hedge funds and other 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.