Brokerages Set Eldorado Gold Corporation (NYSE:EGO) Price Target at $41.83

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have received an average rating of “Hold” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $41.8333.

A number of brokerages have recently commented on EGO. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. BMO Capital Markets reissued an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Citigroup cut Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. Finally, ATB Cormark Capital Markets cut Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock opened at $39.10 on Friday. The firm’s fifty day simple moving average is $31.83 and its 200-day simple moving average is $35.51. Eldorado Gold has a 12 month low of $21.84 and a 12 month high of $51.16. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.29 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The firm had revenue of $487.50 million during the quarter, compared to analysts’ expectations of $529.92 million. As a group, equities analysts forecast that Eldorado Gold will post 3.2 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. Eldorado Gold’s payout ratio is presently 10.64%.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds have recently modified their holdings of EGO. TT International Asset Management LTD raised its stake 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 worth $26,916,000 after buying an additional 710,290 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $3,214,000. U S Global Investors Inc. purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $1,796,000. Burney Co. acquired a new position in Eldorado Gold during the fourth quarter worth $2,506,000. Finally, Pictet Asset Management Holding SA grew its holdings in Eldorado Gold by 255.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 123,176 shares of the basic materials company’s stock worth $4,427,000 after acquiring an additional 88,508 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

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.