Moore Capital Management LP purchased a new position in shares of Eldorado Gold Corporation (NYSE:EGO – Free Report) (TSE:ELD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 130,102 shares of the basic materials company’s stock, valued at approximately $4,045,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Eldorado Gold in the second quarter valued at $32,000. Smartleaf Asset Management LLC acquired a new position in Eldorado Gold during the 4th quarter worth $33,000. Wexford Capital LP bought a new stake in shares of Eldorado Gold in the 3rd quarter worth about $37,000. State of Wyoming bought a new stake in shares of Eldorado Gold in the 2nd quarter worth about $58,000. Finally, EFG International AG acquired a new stake in shares of Eldorado Gold in the 2nd quarter valued at about $62,000. Institutional investors own 69.58% of the company’s stock.
Analysts Set New Price Targets
EGO has been the subject of a number of research reports. Jefferies Financial Group started coverage on Eldorado Gold in a research note on Thursday, August 20th. They issued a “buy” rating and a $50.00 price target for the company. Zacks Research lowered Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. ATB Cormark Capital Markets downgraded Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Finally, Citigroup cut Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.00.
Eldorado Gold Stock Down 1.6%
NYSE:EGO opened at $44.74 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $35.14 and a 200-day moving average of $35.50. The firm has a market capitalization of $11.69 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.33 and a beta of 0.63. Eldorado Gold Corporation has a 52 week low of $23.95 and a 52 week high of $51.16.
Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%. Analysts predict that Eldorado Gold Corporation will post 3.23 EPS for the current year.
Eldorado Gold Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Eldorado Gold’s dividend payout ratio (DPR) is 10.64%.
About Eldorado Gold
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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