Arrowstreet Capital Limited Partnership Has $66.08 Million Stock Holdings in Eldorado Gold Corporation $EGO

Arrowstreet Capital Limited Partnership decreased its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 65.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,924,342 shares of the basic materials company’s stock after selling 3,621,732 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Eldorado Gold were worth $66,084,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EGO. Goldman Sachs Group Inc. grew its stake in 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 purchasing an additional 266,048 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 worth $2,318,000 after buying an additional 6,383 shares during the last quarter. JPMorgan Chase & Co. raised its position in Eldorado Gold by 1,209.2% during the second quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock worth $6,903,000 after acquiring an additional 313,449 shares in the last quarter. Jump Financial LLC bought a new stake in Eldorado Gold during the second quarter worth $859,000. Finally, Cerity Partners LLC lifted its stake in Eldorado Gold by 15.2% in the second 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 last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Price Performance

NYSE:EGO opened at $31.89 on Monday. Eldorado Gold Corporation has a 52 week low of $20.15 and a 52 week high of $51.16. The firm’s 50-day simple moving average is $31.30 and its 200 day simple moving average is $36.01. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. The firm had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. As a group, sell-side analysts predict that Eldorado Gold Corporation will post 3.41 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio is 10.68%.

Analyst Upgrades and Downgrades

EGO has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. ATB Cormark Capital Markets cut Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Bank of America boosted their price target on Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Scotiabank dropped their price objective on 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. Finally, Citigroup cut Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.83.

About Eldorado Gold

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.