Brokerages Set Eldorado Gold Corporation (NYSE:EGO) Target Price at $43.00

by · The Cerbat Gem

Eldorado Gold Corporation (NYSE:EGO – Get Free Report) (TSE:ELD) has been given a consensus rating of “Hold” by the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $43.00.

A number of research analysts have weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Zacks Research lowered shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Jefferies Financial Group started coverage on shares of Eldorado Gold in a research report on Thursday, August 20th. They issued a “buy” rating and a $50.00 price target on the stock. Scotiabank cut their price target on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Finally, Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st.

Read Our Latest Report on EGO

Hedge Funds Weigh In On Eldorado Gold

Large investors have recently bought and sold shares of the stock. HighTower Advisors LLC bought a new stake in shares of Eldorado Gold in the 2nd quarter worth $239,000. TD Waterhouse Canada Inc. raised its holdings in shares of Eldorado Gold by 222.9% in the second quarter. TD Waterhouse Canada Inc. now owns 9,460 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 6,530 shares during the last quarter. Continuum Advisory LLC bought a new position in shares of Eldorado Gold during the second quarter valued at about $25,000. Nykredit A S bought a new position in shares of Eldorado Gold during the second quarter valued at about $143,000. Finally, Headlands Technologies LLC purchased a new position in Eldorado Gold during the second quarter worth about $350,000. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $43.03 on Thursday. 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 twelve month low of $24.44 and a twelve month high of $51.16. The stock’s 50 day moving average is $36.14 and its 200-day moving average is $35.49. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.32 and a beta of 0.71.

Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (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 company had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. Sell-side analysts forecast that Eldorado Gold will post 3.23 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

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

Eldorado Gold Company Profile

(Get Free Report)

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.

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