TD Securities Cuts Eldorado Gold (NYSE:EGO) Price Target to $45.00

by · The Markets Daily

Eldorado Gold (NYSE:EGO – Free Report) (TSE:ELD) had its price objective reduced by TD Securities from $47.00 to $45.00 in a report published on Tuesday morning,BayStreet.CA reports. TD Securities currently has a hold rating on the basic materials company’s stock.

EGO has been the subject of a number of other reports. Bank of America boosted their price objective on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Monday, December 1st. Scotiabank raised shares of Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce cut shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research note on Friday, February 20th. TD Cowen decreased their price objective on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Canaccord Genuity Group downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Eldorado Gold has an average rating of “Hold” and an average target price of $43.71.

Read Our Latest Stock Analysis on Eldorado Gold

Eldorado Gold Trading Up 2.7%

NYSE:EGO opened at $45.58 on Tuesday. Eldorado Gold has a one year low of $13.30 and a one year high of $51.16. The business has a fifty day moving average price of $41.49 and a 200-day moving average price of $32.47. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 0.20 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46.

Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $575.14 million for the quarter, compared to the consensus estimate of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. Sell-side analysts forecast that Eldorado Gold will post 1.5 EPS for the current year.

Eldorado Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%.

Institutional Trading of Eldorado Gold

Large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in shares of Eldorado Gold by 904.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock valued at $65,322,000 after purchasing an additional 1,631,373 shares in the last quarter. Empowered Funds LLC bought a new position in Eldorado Gold during the fourth quarter valued at $3,499,000. XTX Topco Ltd grew its stake in shares of Eldorado Gold by 17.4% in the 4th quarter. XTX Topco Ltd now owns 12,941 shares of the basic materials company’s stock worth $465,000 after buying an additional 1,919 shares in the last quarter. Quadrature Capital Ltd grew its stake in shares of Eldorado Gold by 285.1% in the 4th quarter. Quadrature Capital Ltd now owns 150,200 shares of the basic materials company’s stock worth $5,405,000 after buying an additional 111,200 shares in the last quarter. Finally, Orion Resource Partners LP increased its holdings in shares of Eldorado Gold by 27.1% in the 4th quarter. Orion Resource Partners LP now owns 110,608 shares of the basic materials company’s stock worth $3,975,000 after buying an additional 23,570 shares during the last quarter. Institutional investors own 69.58% of the company’s stock.

About Eldorado Gold

(Get Free Report)

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.

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