Eldorado Gold Corporation $EGO is Carrhae Capital LLP’s 7th Largest Position

Carrhae Capital LLP reduced its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 20.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,909,137 shares of the basic materials company’s stock after selling 988,614 shares during the quarter. Eldorado Gold accounts for approximately 3.3% of Carrhae Capital LLP’s holdings, making the stock its 7th biggest holding. Carrhae Capital LLP’s holdings in Eldorado Gold were worth $121,535,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EGO. BlackRock Inc. purchased a new position in shares of Eldorado Gold during the second quarter valued at approximately $587,469,000. Van ECK Associates Corp raised its holdings in shares of Eldorado Gold by 39.0% in the second quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock worth $580,739,000 after buying an additional 5,241,277 shares during the period. L1 Capital Pty Ltd lifted its stake in shares of Eldorado Gold by 35.2% during the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after acquiring an additional 2,512,168 shares during the last quarter. Donald Smith & CO. Inc. bought a new stake in shares of Eldorado Gold during the 2nd quarter worth approximately $272,580,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Eldorado Gold by 2.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock valued at $199,274,000 after acquiring an additional 132,170 shares during the period. Institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

EGO has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Scotiabank lowered their target price on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Weiss Ratings downgraded shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada decreased their price objective on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating for the company in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Eldorado Gold has an average rating of “Hold” and a consensus price target of $43.00.

Eldorado Gold Stock Up 2.0%

Shares of EGO traded up $0.87 during midday trading on Tuesday, reaching $43.89. 1,291,284 shares of the stock were exchanged, compared to its average volume of 2,861,825. 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’s 50 day moving average is $36.38 and its two-hundred day moving average is $35.39. The company has a market capitalization of $11.47 billion, a P/E ratio of 15.56, a PEG ratio of 0.32 and a beta of 0.71.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share 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 firm had revenue of $487.50 million during the quarter, compared to the consensus estimate of $529.92 million. On average, sell-side analysts anticipate that Eldorado Gold Corporation will post 3.23 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.64%.

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.