Cibc World Market Inc. Takes $9.37 Million Position in Eldorado Gold Corporation $EGO

Cibc World Market Inc. acquired a new stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 301,289 shares of the basic materials company’s stock, valued at approximately $9,369,000.

A number of other institutional investors also recently bought and sold shares of EGO. Savant Capital LLC raised its holdings in shares of Eldorado Gold by 2.7% in the fourth quarter. Savant Capital LLC now owns 14,135 shares of the basic materials company’s stock worth $508,000 after buying an additional 371 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Eldorado Gold by 0.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company’s stock valued at $1,794,000 after buying an additional 582 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Eldorado Gold by 8.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 819 shares during the period. Smartleaf Asset Management LLC acquired a new position in shares of Eldorado Gold in the 4th quarter valued at $33,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Eldorado Gold by 8.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,904 shares of the basic materials company’s stock worth $428,000 after acquiring an additional 949 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EGO shares. 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, July 9th. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, August 9th. Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Weiss Ratings lowered Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Finally, ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

Eldorado Gold Price Performance

Shares of Eldorado Gold stock opened at $46.39 on Tuesday. The firm has a market cap of $12.12 billion, a PE ratio of 16.45, a P/E/G ratio of 0.34 and a beta of 0.63. Eldorado Gold Corporation has a twelve month low of $23.33 and a twelve month high of $51.16. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $33.82 and a 200 day moving average price of $35.27.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. Sell-side analysts predict that Eldorado Gold Corporation will post 3.23 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, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.64%.

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.