Eldorado Gold Corporation $EGO Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 15.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,673 shares of the basic materials company’s stock after selling 16,874 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Eldorado Gold were worth $3,533,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of EGO. BlackRock Inc. acquired a new position in shares of Eldorado Gold in the 2nd quarter valued at $587,469,000. Van ECK Associates Corp boosted its position in shares of Eldorado Gold by 39.0% during the 2nd 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 in the last quarter. Donald Smith & CO. Inc. acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $272,580,000. Dimensional Fund Advisors LP increased its stake in Eldorado Gold by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,113,413 shares of the basic materials company’s stock valued at $175,522,000 after acquiring an additional 54,964 shares during the period. Finally, Ninety One UK Ltd increased its stake in Eldorado Gold by 5.1% in the third quarter. Ninety One UK Ltd now owns 3,303,287 shares of the basic materials company’s stock valued at $127,246,000 after acquiring an additional 158,798 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

EGO has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on shares of Eldorado Gold in a research report on Thursday, August 20th. They issued a “buy” rating and a $50.00 price target for the company. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Zacks Research lowered Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Royal Bank Of Canada increased their target price on Eldorado Gold from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Finally, Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.57.

Eldorado Gold Price Performance

Shares of EGO traded down $0.22 during trading hours on Friday, hitting $31.62. The stock had a trading volume of 1,218,543 shares, compared to its average volume of 4,204,042. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 0.35 and a beta of 0.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.42 and a quick ratio of 0.84. The company’s fifty day moving average is $37.42 and its two-hundred day moving average is $36.40. Eldorado Gold Corporation has a 52 week low of $26.56 and a 52 week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $511.90 million for the quarter, compared to the consensus estimate of $621.90 million. Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. On average, analysts anticipate that Eldorado Gold Corporation will post 2.56 EPS for the current year.

Eldorado Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.0750 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. Eldorado Gold’s payout ratio is 10.00%.

Eldorado Gold Profile

Eldorado Gold Corporation is a Canadian gold mining company headquartered in Vancouver, British Columbia. It explores for, develops and operates mineral properties, with gold as its primary product and silver and base metals also produced at some of its mines. The company’s portfolio spans Canada, Greece and Turkey. Its operations include the Lamaque Complex in Quebec, the Kisladag and Efemcukuru mines in Turkey, and the Olympias mine in Greece. Eldorado is also developing the Skouries copper-gold project in Greece.