40,000 Shares in Eldorado Gold Corporation $EGO Acquired by L1 Global Manager Pty Ltd

L1 Global Manager Pty Ltd bought a new position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 40,000 shares of the basic materials company’s stock, valued at approximately $1,437,000.

Other institutional investors also recently bought and sold shares of the company. Montrusco Bolton Investments Inc. boosted its stake in Eldorado Gold by 41.1% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 356,975 shares of the basic materials company’s stock worth $10,311,000 after purchasing an additional 103,975 shares in the last quarter. Gabelli Funds LLC boosted its stake in Eldorado Gold by 11.8% in the 3rd quarter. Gabelli Funds LLC now owns 1,342,600 shares of the basic materials company’s stock worth $38,788,000 after purchasing an additional 141,900 shares in the last quarter. TT International Asset Management LTD boosted its stake in Eldorado Gold by 1,730.9% in the 4th quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock worth $26,916,000 after purchasing an additional 710,290 shares in the last quarter. Sprott Inc. boosted its stake in Eldorado Gold by 3.1% in the 3rd quarter. Sprott Inc. now owns 1,915,378 shares of the basic materials company’s stock worth $55,335,000 after purchasing an additional 58,013 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in Eldorado Gold by 13.4% in the 3rd quarter. Cibc World Market Inc. now owns 345,445 shares of the basic materials company’s stock worth $9,974,000 after purchasing an additional 40,729 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Stock Performance

EGO opened at $30.62 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. The firm has a fifty day moving average price of $32.73 and a 200 day moving average price of $36.51. Eldorado Gold Corporation has a 1 year low of $19.56 and a 1 year high of $51.16. The stock has a market cap of $7.99 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.17 and a beta of 0.58.

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

Eldorado Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 2nd. Eldorado Gold’s payout ratio is currently 10.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EGO shares. Scotiabank lowered their target price on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 21st. Royal Bank Of Canada cut shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective for the company. in a research note on Tuesday, February 17th. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus 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.