Van ECK Associates Corp Has $516.23 Million Stock Holdings in Eldorado Gold Corporation $EGO

Van ECK Associates Corp trimmed its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,371,585 shares of the basic materials company’s stock after selling 2,128,273 shares during the quarter. Van ECK Associates Corp owned about 7.24% of Eldorado Gold worth $516,230,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of EGO. Goldman Sachs Group Inc. grew its holdings in Eldorado Gold by 50.0% in the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after purchasing an additional 266,048 shares during the period. Geode Capital Management LLC lifted its stake in shares of Eldorado Gold by 6.0% in the second quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock valued at $2,318,000 after buying an additional 6,383 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Eldorado Gold by 1,209.2% in the second quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock valued at $6,903,000 after buying an additional 313,449 shares in the last quarter. Jump Financial LLC bought a new position in shares of Eldorado Gold in the second quarter valued at $859,000. Finally, Cerity Partners LLC lifted its stake in shares of Eldorado Gold by 15.2% in the second quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company’s stock valued at $733,000 after buying an additional 4,758 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Stock Performance

Shares of EGO opened at $30.62 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.17 and a beta of 0.58. The stock has a 50 day moving average of $32.73 and a 200 day moving average of $36.51. Eldorado Gold Corporation has a 12 month low of $19.56 and a 12 month high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The company had revenue of $532.43 million during the quarter, compared to the consensus estimate of $503.31 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. As a group, sell-side analysts forecast that Eldorado Gold Corporation will post 4.27 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio (DPR) is presently 10.68%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Securities dropped their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 15th. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. Finally, TD Cowen dropped their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eldorado Gold has an average rating of “Hold” and an average target price of $44.50.

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.