Eldorado Gold (NYSE:EGO) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) from a hold rating to a strong sell rating in a research report report published on Monday morning,Zacks reports.

A number of other equities analysts have also recently issued reports on EGO. Scotiabank lowered their target price on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Weiss Ratings upgraded Eldorado Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, August 9th. Finally, Jefferies Financial Group assumed coverage on Eldorado Gold in a report on Thursday, August 20th. They set a “buy” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.57.

Eldorado Gold Stock Up 0.0%

Shares of NYSE:EGO opened at $35.15 on Monday. The company has a fifty day moving average of $41.01 and a 200-day moving average of $35.48. The company has a market capitalization of $9.19 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. Eldorado Gold has a 52-week low of $24.44 and a 52-week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $529.92 million. On average, equities analysts predict that Eldorado Gold will post 3.13 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. Eldorado Gold’s dividend payout ratio (DPR) is 10.64%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Continuum Advisory LLC acquired a new stake in shares of Eldorado Gold in the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC increased its position in Eldorado Gold by 217.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company’s stock valued at $50,000 after buying an additional 887 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Eldorado Gold during the 3rd quarter worth approximately $58,000. EFG International AG acquired a new position in Eldorado Gold during the 2nd quarter worth approximately $62,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Eldorado Gold during the 4th quarter worth approximately $98,000. Institutional investors and hedge funds 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.