Eldorado Gold Corporation (NYSE:EGO) Stock Has Consensus Target Price of $46.57 According to Analysts

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $46.57.

Several research firms recently commented on EGO. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Zacks Research upgraded Eldorado Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Jefferies Financial Group started coverage on Eldorado Gold in a report on Thursday, August 20th. They issued a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Finally, Scotiabank decreased their price target on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $38.52 on Monday. Eldorado Gold has a 52-week low of $24.44 and a 52-week high of $51.16. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $40.24 and its 200 day moving average is $35.24. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.28 and a beta of 0.71.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its 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. The firm had revenue of $487.50 million for the quarter, compared to the consensus estimate of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. Sell-side analysts forecast that Eldorado Gold will post 3.16 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.0750 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. Eldorado Gold’s payout ratio is 10.64%.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors have recently made changes to their positions in the company. Continuum Advisory LLC bought a new position in Eldorado Gold during the 2nd quarter valued at about $25,000. EFG International AG bought a new stake in Eldorado Gold in the second quarter worth about $62,000. Caitong International Asset Management Co. Ltd bought a new stake in Eldorado Gold in the fourth quarter worth about $98,000. Nykredit A S purchased a new position in shares of Eldorado Gold during the second quarter valued at approximately $143,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Eldorado Gold during the fourth quarter valued at approximately $253,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company engaged in the exploration, development, construction and operation of gold mines. The company produces gold doré and concentrates, with its activities focused on operating and advancing assets in Türkiye, Greece and Canada.

Eldorado Gold’s principal producing operations include the Kisladag and Efemcukuru mines in Türkiye, the Olympias mine in northern Greece and the Lamaque mine in Quebec, Canada. The company is also advancing the Skouries project in Greece, a copper-gold development intended to produce both copper concentrate and gold.

The company traces its modern history to the 1990s and has expanded through exploration, mine development and acquisitions, including the acquisition of European Goldfields and Integra Gold.