Eldorado Gold Corporation (NYSE:EGO) Sees Large Decrease in Short Interest

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 6,891,969 shares, a decline of 35.4% from the April 15th total of 10,669,593 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 4,567,276 shares, the short-interest ratio is currently 1.5 days.

Institutional Trading of Eldorado Gold

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Eldorado Gold in the 2nd quarter worth approximately $32,000. Smartleaf Asset Management LLC acquired a new stake in shares of Eldorado Gold in the 4th quarter worth approximately $33,000. Aventura Private Wealth LLC acquired a new stake in shares of Eldorado Gold in the 4th quarter worth approximately $36,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Eldorado Gold in the 4th quarter worth approximately $36,000. Finally, Wexford Capital LP acquired a new stake in shares of Eldorado Gold in the 3rd quarter worth approximately $37,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 7th. Royal Bank Of Canada downgraded shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective for the company. in a research report on Tuesday, February 17th. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. Scotiabank lowered their price objective on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 21st. Finally, National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Eldorado Gold presently has a consensus rating of “Hold” and a consensus price target of $44.50.

Eldorado Gold Stock Performance

NYSE EGO traded down $1.21 on Tuesday, hitting $30.46. The stock had a trading volume of 914,881 shares, compared to its average volume of 2,980,831. Eldorado Gold has a one year low of $18.40 and a one year high of $51.16. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.18 and a beta of 0.56. The company’s 50-day moving average is $34.50 and its two-hundred day moving average is $36.00.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The firm had revenue of $532.43 million during the quarter, compared to analysts’ expectations of $503.31 million. On average, analysts expect that Eldorado Gold will post 4.27 earnings per share for the current year.

Eldorado Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio is currently 10.68%.

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.