Penn Capital Management Company LLC Purchases New Position in Eldorado Gold Corporation $EGO

Penn Capital Management Company LLC purchased a new stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 508,439 shares of the basic materials company’s stock, valued at approximately $18,303,000. Eldorado Gold makes up approximately 1.5% of Penn Capital Management Company LLC’s holdings, making the stock its 15th biggest holding. Penn Capital Management Company LLC owned about 0.26% of Eldorado Gold at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EGO. Headlands Technologies LLC purchased a new stake in shares of Eldorado Gold during the 2nd quarter valued at approximately $32,000. Aventura Private Wealth LLC purchased a new stake in Eldorado Gold in the 4th quarter worth approximately $36,000. Flagship Harbor Advisors LLC purchased a new stake in Eldorado Gold in the 4th quarter worth approximately $36,000. Wexford Capital LP purchased a new stake in Eldorado Gold in the 3rd quarter worth approximately $37,000. Finally, State of Wyoming purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $58,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EGO has been the topic of several recent analyst reports. Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Citigroup cut shares of Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. ATB Cormark Capital Markets cut shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.50.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $32.36 on Wednesday. The company’s fifty day moving average price is $33.48 and its 200-day moving average price is $36.25. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.18 and a beta of 0.56. Eldorado Gold Corporation has a one year low of $19.31 and a one year high of $51.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results 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 net margin of 28.62% and a return on equity of 11.60%. On average, equities research analysts anticipate that Eldorado Gold Corporation will post 4.27 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

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

Eldorado Gold 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.