Eldorado Gold Corporation (NYSE:EGO) Stock Has Consensus Target Price of $46.57

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and three have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $46.57.

Several analysts have issued reports on EGO shares. Weiss Ratings cut shares of Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a report on Sunday, August 9th. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group started coverage on Eldorado Gold in a research note on Thursday, August 20th. They set a “buy” rating and a $50.00 price objective for the company.

Eldorado Gold Trading Down 0.1%

Shares of EGO stock opened at $31.63 on Friday. The company has a 50 day moving average of $40.64 and a 200-day moving average of $35.42. 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 12-month low of $24.44 and a 12-month high of $51.16. The firm has a market cap of $8.27 billion, a P/E ratio of 11.22, a PEG ratio of 0.29 and a beta of 0.67.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%. Sell-side analysts anticipate that Eldorado Gold will post 3.02 earnings per share for the current year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, September 1st. Eldorado Gold’s dividend payout ratio (DPR) is 10.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. RWC Asset Management LLP purchased a new stake in Eldorado Gold in the third quarter valued at approximately $30,549,000. Fifth Third Wealth Advisors LLC purchased a new position in Eldorado Gold in the 3rd quarter worth approximately $277,000. U S Global Investors Inc. purchased a new position in Eldorado Gold in the 3rd quarter worth approximately $2,887,000. SBI Securities Co. Ltd. grew its stake in Eldorado Gold by 33.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,544 shares of the basic materials company’s stock worth $175,000 after buying an additional 1,143 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Eldorado Gold by 1,285.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 131,068 shares of the basic materials company’s stock worth $4,919,000 after buying an additional 121,608 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado’s operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.