Eldorado Gold (NYSE:EGO) Shares Gap Down – Time to Sell?

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) shares 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.

Analyst Ratings Changes

EGO has been the subject of several recent analyst reports. Scotiabank dropped their price objective on shares of Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada downgraded 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. Canaccord Genuity Group lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. TD Securities cut their price objective on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. Finally, Canadian Imperial Bank of Commerce lowered Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective on the stock. in a research report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.71.

Eldorado Gold Trading Down 0.7%

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 stock’s 50 day moving average is $41.10 and its 200-day moving average is $34.73. The company has a market capitalization of $7.13 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.14 and a beta of 0.66.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $575.14 million for the quarter, compared to analysts’ expectations of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. As a group, equities research analysts anticipate that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.075 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. Eldorado Gold’s payout ratio is currently 12.10%.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC purchased a new stake in Eldorado Gold in the 4th quarter worth $33,000. Flagship Harbor Advisors LLC purchased a new position in shares of Eldorado Gold during the fourth quarter valued at about $36,000. Aventura Private Wealth LLC bought a new stake in shares of Eldorado Gold in the fourth quarter worth about $36,000. Wexford Capital LP purchased a new stake in shares of Eldorado Gold in the third quarter worth about $37,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Eldorado Gold in the second quarter worth about $32,000. 69.58% of the stock is owned by institutional investors.

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.