L1 Capital Pty Ltd Has $346.28 Million Position in Eldorado Gold Corporation $EGO

L1 Capital Pty Ltd lifted its position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 35.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,640,407 shares of the basic materials company’s stock after acquiring an additional 2,512,168 shares during the period. Eldorado Gold makes up approximately 18.1% of L1 Capital Pty Ltd’s portfolio, making the stock its largest position. L1 Capital Pty Ltd’s holdings in Eldorado Gold were worth $346,283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGO. Headlands Technologies LLC purchased a new stake in Eldorado Gold in the second quarter worth approximately $32,000. Aventura Private Wealth LLC purchased a new stake in Eldorado Gold in the fourth quarter worth approximately $36,000. Flagship Harbor Advisors LLC purchased a new stake in Eldorado Gold in the fourth quarter worth approximately $36,000. Wexford Capital LP purchased a new stake in Eldorado Gold in the third quarter worth approximately $37,000. Finally, State of Wyoming purchased a new stake in Eldorado Gold in the second quarter worth approximately $58,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Shares of NYSE EGO opened at $30.62 on Friday. 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 company has a market cap of $7.99 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.17 and a beta of 0.58. The firm’s fifty day moving average is $32.73 and its two-hundred day moving average is $36.51. Eldorado Gold Corporation has a 52-week low of $19.56 and a 52-week high of $51.16.

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

Eldorado Gold Dividend Announcement

The firm also recently announced 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 is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.0%. Eldorado Gold’s payout ratio is 10.68%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada cut shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price on the stock. in a research note on Tuesday, February 17th. TD Cowen lowered their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Eldorado Gold presently has an average rating of “Hold” and an average 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.