Cape Ann Asset Management Ltd acquired a new stake in Eldorado Gold Corporation (NYSE:EGO – Free Report) (TSE:ELD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 758,654 shares of the basic materials company’s stock, valued at approximately $26,045,000. Eldorado Gold comprises approximately 5.9% of Cape Ann Asset Management Ltd’s investment portfolio, making the stock its 7th largest position.
A number of other large investors also recently bought and sold shares of EGO. L1 Capital Pty Ltd grew its stake in Eldorado Gold by 35.2% in the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after acquiring an additional 2,512,168 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Eldorado Gold by 2.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock valued at $199,274,000 after buying an additional 132,170 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Eldorado Gold by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,113,413 shares of the basic materials company’s stock valued at $175,522,000 after acquiring an additional 54,964 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Eldorado Gold by 904.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after purchasing an additional 1,631,373 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Eldorado Gold by 490.6% during the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after acquiring an additional 1,484,503 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on EGO. Scotiabank cut their target price 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. BMO Capital Markets reaffirmed an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. TD Cowen reduced their target price on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Zacks Research upgraded Eldorado Gold from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, TD Securities dropped their price target on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Eldorado Gold currently has an average rating of “Hold” and a consensus price target of $41.83.
Eldorado Gold Stock Down 0.3%
Shares of NYSE EGO opened at $31.89 on Friday. The business’s 50 day moving average is $31.30 and its two-hundred day moving average is $36.01. Eldorado Gold Corporation has a 52-week low of $20.15 and a 52-week high of $51.16. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.22 and a beta of 0.62. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.27.
Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.26. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%.The company had revenue of $532.43 million during the quarter, compared to the consensus estimate of $503.31 million. Research analysts predict that Eldorado Gold Corporation will post 3.41 EPS for the current year.
Eldorado Gold Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.9%. Eldorado Gold’s dividend payout ratio (DPR) is 10.68%.
Eldorado Gold Company Profile
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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