Cibc World Market Inc. Boosts Stock Position in Eldorado Gold Corporation $EGO

Cibc World Market Inc. raised its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 13.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 345,445 shares of the basic materials company’s stock after acquiring an additional 40,729 shares during the period. Cibc World Market Inc.’s holdings in Eldorado Gold were worth $9,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ruffer LLP grew its position in Eldorado Gold by 29.2% in the 3rd quarter. Ruffer LLP now owns 1,412,740 shares of the basic materials company’s stock valued at $40,814,000 after buying an additional 319,187 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Eldorado Gold by 10.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,300 shares of the basic materials company’s stock worth $5,669,000 after acquiring an additional 26,000 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Eldorado Gold in the third quarter valued at about $506,000. TT International Asset Management LTD acquired a new position in shares of Eldorado Gold during the third quarter worth about $1,186,000. Finally, American Century Companies Inc. raised its holdings in Eldorado Gold by 8.4% during the second quarter. American Century Companies Inc. now owns 1,146,359 shares of the basic materials company’s stock worth $23,332,000 after purchasing an additional 88,752 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EGO shares. Scotiabank raised Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st. Bank of America upped their price objective on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Monday, December 1st. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $54.00 target price on shares of Eldorado Gold in a report on Wednesday, February 4th. Finally, National Bank Financial restated an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.80.

Eldorado Gold Stock Performance

NYSE EGO opened at $47.42 on Friday. The business has a 50 day moving average price of $39.43 and a 200 day moving average price of $31.01. The company has a market capitalization of $9.42 billion, a P/E ratio of 26.35, a PEG ratio of 0.20 and a beta of 0.51. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $51.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.28.

Eldorado Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.075 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.30 annualized dividend and a dividend yield of 0.6%.

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.