Penserra Capital Management LLC Invests $506,000 in Eldorado Gold Corporation $EGO

Penserra Capital Management LLC purchased a new stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,525 shares of the basic materials company’s stock, valued at approximately $506,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. TD Waterhouse Canada Inc. grew its position in shares of Eldorado Gold by 35.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock worth $46,000 after buying an additional 587 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Eldorado Gold by 7.6% in the second quarter. SBI Securities Co. Ltd. now owns 9,693 shares of the basic materials company’s stock worth $197,000 after acquiring an additional 687 shares during the period. Fox Run Management L.L.C. boosted its holdings in Eldorado Gold by 2.6% in the second quarter. Fox Run Management L.L.C. now owns 29,553 shares of the basic materials company’s stock valued at $601,000 after acquiring an additional 759 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in Eldorado Gold by 6.4% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 22,155 shares of the basic materials company’s stock valued at $451,000 after purchasing an additional 1,340 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Eldorado Gold during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America raised their target price on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research report on Monday, December 1st. Scotiabank upgraded shares of Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 26th. Canaccord Genuity Group upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $54.00 price objective on shares of Eldorado Gold in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $32.80.

Eldorado Gold Stock Up 5.5%

EGO stock opened at $39.01 on Monday. The business has a 50 day moving average of $38.04 and a 200 day moving average of $30.30. The firm has a market cap of $7.75 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 0.19 and a beta of 0.51. Eldorado Gold Corporation has a twelve month low of $13.29 and a twelve month high of $51.16. The company has a quick ratio of 2.28, a current ratio of 2.79 and a debt-to-equity ratio of 0.31.

Eldorado Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th.

Eldorado Gold 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.