Legal & General Group Plc Boosts Holdings in Eldorado Gold Corporation $EGO

Legal & General Group Plc raised its position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 711,451 shares of the basic materials company’s stock after acquiring an additional 54,193 shares during the period. Legal & General Group Plc owned approximately 0.36% of Eldorado Gold worth $25,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Eldorado Gold by 50.0% in the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock valued at $13,426,000 after acquiring an additional 266,048 shares during the period. Geode Capital Management LLC grew its stake in shares of Eldorado Gold by 6.0% during the second quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock valued at $2,318,000 after buying an additional 6,383 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Eldorado Gold by 1,209.2% in the second quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock worth $6,903,000 after buying an additional 313,449 shares during the period. Jump Financial LLC bought a new stake in shares of Eldorado Gold during the 2nd quarter worth approximately $859,000. Finally, Cerity Partners LLC boosted its holdings in Eldorado Gold by 15.2% during the 2nd quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company’s stock valued at $733,000 after acquiring an additional 4,758 shares during the period. 69.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EGO shares. Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a report on Wednesday, April 15th. TD Cowen decreased their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.50.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock opened at $33.87 on Monday. Eldorado Gold Corporation has a one year low of $19.56 and a one year high of $51.16. The company has a market capitalization of $8.84 billion, a PE ratio of 12.05, a P/E/G ratio of 0.20 and a beta of 0.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. The company has a 50-day simple moving average of $33.26 and a two-hundred day simple moving average of $36.37.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%.The business had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Research analysts expect that Eldorado Gold Corporation will post 4.27 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

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

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.