Brokerages Set Eldorado Gold Corporation (NYSE:EGO) Target Price at $43.71
by Tristan Rich · The Markets DailyEldorado Gold Corporation (NYSE:EGO – Get Free Report) (TSE:ELD) has been assigned an average recommendation of “Hold” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $43.7143.
EGO has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. TD Cowen cut their price target on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, February 24th. Canadian Imperial Bank of Commerce lowered shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price target on the stock. in a report on Friday, February 20th. TD Securities cut their price target on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st.
Check Out Our Latest Stock Analysis on EGO
Hedge Funds Weigh In On Eldorado Gold
A number of hedge funds have recently modified their holdings of EGO. Van ECK Associates Corp lifted its holdings in shares of Eldorado Gold by 33.9% during the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after purchasing an additional 4,173,963 shares during the period. L1 Capital Pty Ltd lifted its holdings in shares of Eldorado Gold by 35.2% during the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after purchasing an additional 2,512,168 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after purchasing an additional 1,631,373 shares during the period. Millennium Management LLC lifted its holdings in shares of Eldorado Gold by 490.6% during the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after purchasing an additional 1,484,503 shares during the period. Finally, FIL Ltd acquired a new position in shares of Eldorado Gold during the fourth quarter worth $35,473,000. Institutional investors and hedge funds own 69.58% of the company’s stock.
Eldorado Gold Stock Performance
Shares of Eldorado Gold stock opened at $35.60 on Monday. Eldorado Gold has a fifty-two week low of $16.20 and a fifty-two week high of $51.16. 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 firm has a market capitalization of $7.07 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.15 and a beta of 0.66. The company’s 50 day moving average price is $39.91 and its two-hundred day moving average price is $35.01.
Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last issued its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The company had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million. On average, equities analysts forecast that Eldorado Gold will post 1.5 earnings per share for the current fiscal year.
Eldorado Gold Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 27th. Eldorado Gold’s payout ratio is 12.10%.
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.