Allspring Global Investments Holdings LLC Buys 110,000 Shares of Eldorado Gold Corporation $EGO

Allspring Global Investments Holdings LLC increased its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 14.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 896,300 shares of the basic materials company’s stock after buying an additional 110,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Eldorado Gold were worth $30,785,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in Eldorado Gold during the 2nd quarter worth about $32,000. Smartleaf Asset Management LLC bought a new position in shares of Eldorado Gold in the fourth quarter valued at approximately $33,000. Flagship Harbor Advisors LLC purchased a new position in Eldorado Gold during the fourth quarter valued at approximately $36,000. Aventura Private Wealth LLC purchased a new position in Eldorado Gold during the fourth quarter valued at approximately $36,000. Finally, Wexford Capital LP bought a new stake in Eldorado Gold during the 3rd quarter worth approximately $37,000. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Stock Performance

Shares of NYSE EGO opened at $27.94 on Monday. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 0.17 and a beta of 0.62. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. Eldorado Gold Corporation has a 1-year low of $19.70 and a 1-year high of $51.16. The stock’s 50-day moving average is $31.65 and its 200 day moving average is $36.19.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its 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. 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, sell-side analysts anticipate that Eldorado Gold Corporation will post 3.87 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio (DPR) is presently 10.68%.

Analyst Upgrades and Downgrades

Several brokerages have commented on EGO. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a report on Wednesday, April 15th. TD Cowen dropped their price objective 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. TD Securities reduced their target price on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings lowered Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Finally, Scotiabank lowered their target price on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.83.

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.