Eldorado Gold Corporation (NYSE:EGO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $31.20.

EGO has been the topic of several research analyst reports. CIBC raised their target price on shares of Eldorado Gold from $32.00 to $46.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank raised their price objective on shares of Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday. Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Bank of America lifted their price target on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday, December 1st.

Eldorado Gold Stock Up 2.3%

Shares of Eldorado Gold stock opened at $46.20 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.28. Eldorado Gold has a 1-year low of $13.29 and a 1-year high of $46.48. The business’s fifty day moving average price is $35.17 and its two-hundred day moving average price is $28.69. The company has a market capitalization of $9.17 billion, a P/E ratio of 25.67, a PEG ratio of 0.24 and a beta of 0.54.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.08). Eldorado Gold had a return on equity of 8.89% and a net margin of 22.15%.The business had revenue of $436.44 million during the quarter, compared to the consensus estimate of $422.25 million. As a group, research analysts forecast that Eldorado Gold will post 1.5 EPS for the current year.

Eldorado Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, February 27th.

Hedge Funds Weigh In On Eldorado Gold

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of Eldorado Gold by 50.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after purchasing an additional 266,048 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Eldorado Gold in the second quarter valued at $349,000. Public Employees Retirement System of Ohio increased its holdings in shares of Eldorado Gold by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 82,847 shares of the basic materials company’s stock valued at $1,683,000 after buying an additional 6,475 shares in the last quarter. Ruffer LLP lifted its position in shares of Eldorado Gold by 10.2% during the 2nd quarter. Ruffer LLP now owns 1,093,553 shares of the basic materials company’s stock valued at $22,243,000 after acquiring an additional 101,456 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Eldorado Gold by 10.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,300 shares of the basic materials company’s stock worth $5,669,000 after acquiring an additional 26,000 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

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.