Candriam S.C.A. Cuts Stake in Eldorado Gold Corporation $EGO

Candriam S.C.A. cut its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 11.3% during the first quarter, HoldingsChannel.com reports. The firm owned 880,130 shares of the basic materials company’s stock after selling 112,370 shares during the period. Candriam S.C.A.’s holdings in Eldorado Gold were worth $30,204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EGO. Cvfg LLC acquired a new position in Eldorado Gold during the 1st quarter valued at about $2,163,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Eldorado Gold by 462.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 174,523 shares of the basic materials company’s stock valued at $5,991,000 after acquiring an additional 143,503 shares in the last quarter. PKO Investment Management Joint Stock Co raised its position in shares of Eldorado Gold by 20.2% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 82,947 shares of the basic materials company’s stock valued at $2,842,000 after purchasing an additional 13,947 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Eldorado Gold in the 4th quarter valued at approximately $98,000. Finally, Mackenzie Financial Corp boosted its stake in Eldorado Gold by 904.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after purchasing an additional 1,631,373 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock traded down $0.34 during trading on Friday, hitting $30.26. 944,093 shares of the company’s stock were exchanged, compared to its average volume of 2,803,724. 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 business has a 50-day simple moving average of $31.95 and a 200-day simple moving average of $36.48. Eldorado Gold Corporation has a 52-week low of $19.70 and a 52-week high of $51.16. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 0.18 and a beta of 0.62.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26. The company had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. On average, research analysts forecast that Eldorado Gold Corporation will post 3.92 EPS for the current year.

Eldorado Gold Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on EGO. TD Cowen decreased their price target 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. Bank of America upped their target price on Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a research report on Thursday. BMO Capital Markets restated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 15th. Royal Bank Of Canada dropped their price target on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Weiss Ratings lowered Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.33.

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.