Eldorado Gold Corporation $EGO Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,546,074 shares of the basic materials company’s stock after acquiring an additional 132,170 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Eldorado Gold were worth $199,274,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Eldorado Gold in the second quarter worth $32,000. Smartleaf Asset Management LLC acquired a new position in shares of Eldorado Gold in the fourth quarter worth $33,000. Aventura Private Wealth LLC acquired a new position in shares of Eldorado Gold in the fourth quarter worth $36,000. Flagship Harbor Advisors LLC acquired a new position in shares of Eldorado Gold in the fourth quarter worth $36,000. Finally, Wexford Capital LP acquired a new position in shares of Eldorado Gold in the third quarter worth $37,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $30.62 on Monday. Eldorado Gold Corporation has a 1-year low of $19.56 and a 1-year high of $51.16. The business has a 50-day moving average of $32.73 and a 200-day moving average of $36.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.18 and a beta of 0.58.

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

Eldorado Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.68%.

Analyst Ratings Changes

Several equities analysts recently commented on EGO shares. Zacks Research lowered Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price for the company. in a research note on Tuesday, February 17th. TD Cowen dropped their target price on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Canadian Imperial Bank of Commerce lowered Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a research note on Friday, February 20th. Finally, National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Eldorado Gold currently has an average rating of “Hold” and a consensus price target 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.