TD Waterhouse Canada Inc. lifted its holdings in shares of Eldorado Gold Corporation (NYSE:EGO – Free Report) (TSE:ELD) by 1,285.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 131,068 shares of the basic materials company’s stock after acquiring an additional 121,608 shares during the period. TD Waterhouse Canada Inc.’s holdings in Eldorado Gold were worth $4,919,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Eldorado Gold in the second quarter valued at approximately $587,469,000. Van ECK Associates Corp boosted its stake in Eldorado Gold by 39.0% in the second quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock valued at $580,739,000 after acquiring an additional 5,241,277 shares during the last quarter. Donald Smith & CO. Inc. acquired a new stake in Eldorado Gold during the 2nd quarter worth $272,580,000. Dimensional Fund Advisors LP grew its holdings in Eldorado Gold by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,113,413 shares of the basic materials company’s stock worth $175,522,000 after acquiring an additional 54,964 shares during the period. Finally, Ninety One UK Ltd grew its holdings in Eldorado Gold by 5.1% during the 3rd quarter. Ninety One UK Ltd now owns 3,303,287 shares of the basic materials company’s stock worth $127,246,000 after acquiring an additional 158,798 shares during the period. 69.58% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
EGO has been the subject of several recent research reports. Weiss Ratings upgraded shares of Eldorado Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Scotiabank reduced their price target on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Jefferies Financial Group initiated 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. Finally, Bank of America upgraded Eldorado Gold from an “underperform” rating to a “buy” rating and upped their price objective for the company from $32.00 to $54.00 in a report on Tuesday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.57.
Get Our Latest Research Report on Eldorado Gold
Eldorado Gold Stock Down 2.4%
Eldorado Gold stock opened at $35.09 on Tuesday. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.32 and a beta of 0.67. The company’s 50 day simple moving average is $41.09 and its 200 day simple moving average is $35.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. Eldorado Gold Corporation has a fifty-two week low of $24.44 and a fifty-two week high of $51.16.
Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $487.50 million during the quarter, compared to the consensus estimate of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. As a group, sell-side analysts anticipate that Eldorado Gold Corporation will post 3.13 EPS for the current year.
Eldorado Gold Announces Dividend
The company 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 of this dividend was Tuesday, September 1st. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.64%.
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.
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