NewEdge Advisors LLC Has $2.02 Million Holdings in Eldorado Gold Corporation $EGO

NewEdge Advisors LLC decreased its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 25.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,683 shares of the basic materials company’s stock after selling 19,849 shares during the period. NewEdge Advisors LLC’s holdings in Eldorado Gold were worth $2,015,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. L1 Capital Pty Ltd boosted its stake in shares of Eldorado Gold by 35.2% during 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 during the period. Mackenzie Financial Corp raised its stake in 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 valued at $65,322,000 after acquiring an additional 1,631,373 shares during the period. Millennium Management LLC raised its stake in Eldorado Gold by 490.6% in the 4th quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock valued at $64,193,000 after acquiring an additional 1,484,503 shares during the period. FIL Ltd acquired a new stake in Eldorado Gold during the 4th quarter valued at $35,473,000. Finally, Cape Ann Asset Management Ltd acquired a new stake in Eldorado Gold during the 1st quarter valued at $26,045,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup cut shares of Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. Scotiabank dropped 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. Bank of America raised their target price on shares of Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Stifel Nicolaus raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.83.

Eldorado Gold Trading Up 3.2%

Shares of Eldorado Gold stock opened at $39.69 on Friday. The firm has a 50-day moving average of $32.33 and a 200-day moving average of $35.45. The stock has a market cap of $10.37 billion, a PE ratio of 14.07, a PEG ratio of 0.28 and a beta of 0.63. Eldorado Gold Corporation has a 52-week low of $21.84 and a 52-week high of $51.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly 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. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The business had revenue of $487.50 million for the quarter, compared to the consensus estimate of $529.92 million. As a group, sell-side analysts forecast that Eldorado Gold Corporation will post 3.2 EPS for the current year.

Eldorado Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. Eldorado Gold’s payout ratio is currently 10.64%.

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.