40,000 Shares in Eldorado Gold Corporation $EGO Bought by L1 Global Manager Pty Ltd

L1 Global Manager Pty Ltd purchased a new position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 40,000 shares of the basic materials company’s stock, valued at approximately $1,437,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. L1 Capital Pty Ltd increased its holdings 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Eldorado Gold in the 4th quarter worth $3,357,000. Wells Fargo & Company MN increased its holdings in Eldorado Gold by 42.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,462 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 1,336 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings in Eldorado Gold by 51.3% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 31,735 shares of the basic materials company’s stock worth $1,141,000 after acquiring an additional 10,760 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its holdings in Eldorado Gold by 132.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 42,687 shares of the basic materials company’s stock worth $1,534,000 after acquiring an additional 24,317 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $30.62 on Friday. The firm has a 50-day simple moving average of $32.73 and a 200-day simple moving average of $36.51. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.17 and a beta of 0.58. 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 Corporation has a 52 week low of $19.56 and a 52 week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly 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. The firm had revenue of $532.43 million for the quarter, compared to analysts’ expectations of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. On average, equities analysts predict that Eldorado Gold Corporation will post 4.27 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 1.0%. Eldorado Gold’s payout ratio is presently 10.68%.

Analysts Set New Price Targets

Several equities research analysts recently commented on EGO shares. Zacks Research lowered shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Citigroup lowered shares of Eldorado Gold to a “sector perform” rating in a report on Monday, May 4th. Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, TD Securities dropped their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Eldorado Gold has an average rating of “Hold” and an average target price of $44.50.

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.