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

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) has received an average rating 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 recommendation, five have issued a hold recommendation, six have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $46.57.

Several research analysts recently weighed in on the company. Royal Bank Of Canada increased their target price on Eldorado Gold from $37.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 16th. Zacks Research lowered shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, August 9th. Weiss Ratings lowered Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st.

Eldorado Gold Stock Up 7.8%

EGO opened at $34.19 on Friday. Eldorado Gold has a 52 week low of $24.44 and a 52 week high of $51.16. The business’s 50 day moving average is $40.29 and its two-hundred day moving average is $37.00.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping 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. Sell-side analysts forecast that Eldorado Gold will post 3.02 EPS for the current year.

Eldorado Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.9%.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently bought and sold shares of EGO. RWC Asset Management LLP bought a new position in shares of Eldorado Gold during the 3rd quarter worth approximately $30,549,000. Fifth Third Wealth Advisors LLC bought a new position in Eldorado Gold in the 3rd quarter worth approximately $277,000. U S Global Investors Inc. acquired a new position in shares of Eldorado Gold during the third quarter valued at $2,887,000. SBI Securities Co. Ltd. lifted its position in Eldorado Gold by 33.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,544 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 1,143 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in Eldorado Gold by 1,285.5% in the third quarter. TD Waterhouse Canada Inc. now owns 131,068 shares of the basic materials company’s stock valued at $4,919,000 after acquiring an additional 121,608 shares during the last quarter. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

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.