Eldorado Gold (NYSE:EGO) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a strong sell rating to a hold rating in a research note released on Monday,Zacks reports.

Several other research firms have also recently issued reports on EGO. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, August 9th. Stifel Nicolaus raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Jefferies Financial Group assumed coverage on shares of Eldorado Gold in a research report on Thursday, August 20th. They set a “buy” rating and a $50.00 target price on the stock. Bank of America raised their target price on shares of Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada lowered their target price on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Eldorado Gold Stock Down 2.4%

Shares of NYSE:EGO opened at $40.17 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. Eldorado Gold has a 52-week low of $24.44 and a 52-week high of $51.16. The stock’s fifty day simple moving average is $37.59 and its 200-day simple moving average is $35.29. The company has a market capitalization of $10.50 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.30 and a beta of 0.71.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%.The firm had revenue of $487.50 million during the quarter, compared to analysts’ expectations of $529.92 million. As a group, equities research analysts forecast that Eldorado Gold will post 3.23 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.64%.

Institutional Investors Weigh In On Eldorado Gold

Institutional investors have recently bought and sold shares of the stock. Continuum Advisory LLC acquired a new position in shares of Eldorado Gold in the 2nd quarter valued at about $25,000. EFG International AG acquired a new stake in Eldorado Gold during the 2nd quarter worth approximately $62,000. Caitong International Asset Management Co. Ltd acquired a new stake in Eldorado Gold during the 4th quarter worth approximately $98,000. Nykredit A S purchased a new position in Eldorado Gold in the second quarter valued at approximately $143,000. Finally, FourThought Financial Partners LLC purchased a new position in Eldorado Gold in the fourth quarter valued at approximately $219,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

About Eldorado Gold

Eldorado Gold Corporation is a Vancouver-based mid-tier gold producer focused on the exploration, development and operation of precious-metals mining assets. The company primarily produces gold, with some operations also generating silver, lead and zinc concentrates.

Eldorado Gold operates the Lamaque gold mine in Quebec, Canada; the Kisladag and Efemcukuru gold mines in Türkiye; and the Olympias polymetallic mine in northern Greece. The company is also advancing the Skouries project in Greece, a copper-gold development that is expected to expand its production profile.

Founded in 1996, Eldorado has built an international portfolio through acquisitions, exploration and mine development.