Eldorado Gold Corporation $EGO Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH decreased its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 66.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 30,700 shares of the basic materials company’s stock after selling 61,400 shares during the period. Erste Asset Management GmbH’s holdings in Eldorado Gold were worth $874,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EGO. Goldman Sachs Group Inc. increased its stake in Eldorado Gold by 50.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock valued at $13,426,000 after purchasing an additional 266,048 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Eldorado Gold in the 2nd quarter valued at $285,000. Harvest Portfolios Group Inc. raised its stake in Eldorado Gold by 12.3% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 43,440 shares of the basic materials company’s stock worth $884,000 after acquiring an additional 4,754 shares during the last quarter. Fox Run Management L.L.C. raised its stake in Eldorado Gold by 2.6% in the 2nd quarter. Fox Run Management L.L.C. now owns 29,553 shares of the basic materials company’s stock worth $601,000 after acquiring an additional 759 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its position in Eldorado Gold by 169.6% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 102,421 shares of the basic materials company’s stock worth $2,083,000 after acquiring an additional 64,431 shares during the period. 69.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce cut Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research note on Friday, February 20th. TD Cowen decreased their target price on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. TD Securities cut their price objective on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, February 24th. Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.71.

Eldorado Gold Trading Up 2.2%

Shares of Eldorado Gold stock opened at $46.52 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46. The stock’s 50 day simple moving average is $41.71 and its 200-day simple moving average is $32.78. The stock has a market cap of $9.24 billion, a P/E ratio of 18.76, a P/E/G ratio of 0.16 and a beta of 0.51. Eldorado Gold Corporation has a 1-year low of $13.30 and a 1-year high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%.The company had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million. Analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, February 27th. Eldorado Gold’s payout ratio is presently 12.10%.

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.