Renaissance Technologies LLC Has $60.80 Million Stake in Eldorado Gold Corporation $EGO

Renaissance Technologies LLC trimmed its position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 16.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,771,133 shares of the basic materials company’s stock after selling 359,000 shares during the period. Renaissance Technologies LLC’s holdings in Eldorado Gold were worth $60,803,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in shares of Eldorado Gold by 25.8% in the first quarter. First Trust Advisors LP now owns 144,109 shares of the basic materials company’s stock valued at $4,949,000 after purchasing an additional 29,592 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Eldorado Gold by 1.1% during 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 buying an additional 54,964 shares during the period. Allspring Global Investments Holdings LLC raised its position in Eldorado Gold by 14.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 896,300 shares of the basic materials company’s stock valued at $30,785,000 after buying an additional 110,000 shares during the period. Bank of New York Mellon Corp lifted its stake in Eldorado Gold by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 65,774 shares of the basic materials company’s stock worth $2,258,000 after acquiring an additional 1,841 shares in the last quarter. Finally, Cvfg LLC purchased a new stake in Eldorado Gold in the 1st quarter worth about $2,163,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EGO has been the topic of several research analyst reports. Zacks Research raised Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. BMO Capital Markets restated an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Scotiabank lowered their price objective on shares of 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. TD Cowen dropped their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. Finally, Bank of America increased their target price on shares of Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.83.

Eldorado Gold Stock Up 0.0%

Shares of Eldorado Gold stock opened at $31.89 on Monday. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.22 and a beta of 0.62. The stock has a 50-day simple moving average of $31.30 and a 200-day simple moving average of $36.01. Eldorado Gold Corporation has a 52-week low of $20.15 and a 52-week high of $51.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. The firm had revenue of $532.43 million for the quarter, compared to the consensus estimate of $503.31 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. On average, equities research analysts expect that Eldorado Gold Corporation will post 3.41 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.075 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. Eldorado Gold’s dividend payout ratio is 10.68%.

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.