Eldorado Gold Corporation $EGO Shares Purchased by Ninety One UK Ltd

Ninety One UK Ltd raised its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 5.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,303,287 shares of the basic materials company’s stock after buying an additional 158,798 shares during the period. Ninety One UK Ltd’s holdings in Eldorado Gold were worth $127,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGO. Continuum Advisory LLC bought a new stake in shares of Eldorado Gold in the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC raised its position in shares of Eldorado Gold by 217.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 887 shares during the period. Fortitude Family Office LLC bought a new position in Eldorado Gold during the 3rd quarter worth approximately $58,000. EFG International AG bought a new position in Eldorado Gold during the 2nd quarter worth approximately $62,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Eldorado Gold during the 4th quarter worth approximately $98,000. Institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EGO shares. Weiss Ratings raised shares of Eldorado Gold from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada lifted their price target on shares of Eldorado Gold from $37.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 16th. Bank of America raised shares of Eldorado Gold from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $54.00 in a research report on Tuesday, September 22nd. Scotiabank decreased their price target on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Eldorado Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Eldorado Gold currently has an average rating of “Moderate Buy” and an average target price of $46.57.

Eldorado Gold Stock Up 3.6%

Shares of NYSE:EGO traded up $1.23 during trading on Thursday, hitting $35.68. 1,448,373 shares of the company’s stock traded hands, compared to its average volume of 2,901,260. Eldorado Gold Corporation has a 52 week low of $24.44 and a 52 week high of $51.16. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67. The company has a 50-day moving average price of $41.21 and a 200-day moving average price of $35.44.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) 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 business had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. As a group, research analysts forecast that Eldorado Gold Corporation will post 3.13 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.0750 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. Eldorado Gold’s payout ratio is presently 10.64%.

About Eldorado Gold

Eldorado Gold Corporation is a Canadian gold mining company engaged in the exploration, development, construction and operation of gold mines. The company produces gold doré and concentrates, with its activities focused on operating and advancing assets in Türkiye, Greece and Canada.

Eldorado Gold’s principal producing operations include the Kisladag and Efemcukuru mines in Türkiye, the Olympias mine in northern Greece and the Lamaque mine in Quebec, Canada. The company is also advancing the Skouries project in Greece, a copper-gold development intended to produce both copper concentrate and gold.

The company traces its modern history to the 1990s and has expanded through exploration, mine development and acquisitions, including the acquisition of European Goldfields and Integra Gold.