98,495 Shares in Eldorado Gold Corporation $EGO Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the second quarter, Holdings Channel.com reports. The institutional investor bought 98,495 shares of the basic materials company’s stock, valued at approximately $3,064,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $587,469,000. Donald Smith & CO. Inc. purchased a new stake in Eldorado Gold in the second quarter valued at approximately $272,580,000. L1 Capital Pty Ltd lifted its position in Eldorado Gold by 35.2% during the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after purchasing an additional 2,512,168 shares during the last quarter. Mackenzie Financial Corp lifted its position in Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock valued at $65,322,000 after purchasing an additional 1,631,373 shares during the last quarter. Finally, Millennium Management LLC grew 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 worth $64,193,000 after buying an additional 1,484,503 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EGO shares. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Weiss Ratings cut Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada dropped their price target on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Finally, Bank of America upped their price objective on Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.00.

Eldorado Gold Price Performance

EGO stock opened at $43.03 on Friday. The firm’s 50-day moving average price is $36.14 and its two-hundred day moving average price is $35.49. Eldorado Gold Corporation has a 12-month low of $24.44 and a 12-month high of $51.16. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.32 and a beta of 0.71. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. As a group, equities analysts predict that Eldorado Gold Corporation will post 3.23 earnings per share for the current year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.075 per share. 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 0.7%. Eldorado Gold’s dividend payout ratio is presently 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.