UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 82,204 Shares of Eldorado Gold Corporation $EGO

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 72,108.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 82,318 shares of the basic materials company’s stock after buying an additional 82,204 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Eldorado Gold were worth $2,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of EGO. BlackRock Inc. acquired a new stake in Eldorado Gold in the 2nd quarter worth $587,469,000. Van ECK Associates Corp increased its stake in Eldorado Gold by 39.0% during the second quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock valued at $580,739,000 after acquiring an additional 5,241,277 shares during the period. L1 Capital Pty Ltd increased its stake in Eldorado Gold by 35.2% during the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after acquiring an additional 2,512,168 shares during the period. Donald Smith & CO. Inc. bought a new position in Eldorado Gold during the second quarter valued at about $272,580,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Eldorado Gold by 2.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock valued at $199,274,000 after acquiring an additional 132,170 shares in the last quarter. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Down 4.1%

Shares of EGO opened at $42.75 on Friday. 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 company has a 50-day moving average price of $37.07 and a two-hundred day moving average price of $35.34. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.33 and a beta of 0.71. Eldorado Gold Corporation has a 12 month low of $24.44 and a 12 month high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%.The company had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. Equities analysts predict that Eldorado Gold Corporation will post 3.23 EPS 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 annualized dividend and a yield of 0.7%. Eldorado Gold’s payout ratio is currently 10.64%.

Wall Street Analyst Weigh In

A number of analysts have commented on EGO shares. Jefferies Financial Group initiated coverage on Eldorado Gold in a research report on Thursday, August 20th. They issued a “buy” rating and a $50.00 price objective for the company. Bank of America boosted their price objective on Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Zacks Research cut Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Eldorado Gold from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.00.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Vancouver-based mid-tier gold producer focused on the exploration, development and operation of precious-metals mining assets. The company primarily produces gold, with some operations also generating silver, lead and zinc concentrates.

Eldorado Gold operates the Lamaque gold mine in Quebec, Canada; the Kisladag and Efemcukuru gold mines in Türkiye; and the Olympias polymetallic mine in northern Greece. The company is also advancing the Skouries project in Greece, a copper-gold development that is expected to expand its production profile.

Founded in 1996, Eldorado has built an international portfolio through acquisitions, exploration and mine development.