Eldorado Gold Corporation $EGO Shares Sold by Equinox Partners Investment Management LLC

Equinox Partners Investment Management LLC lowered its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 54.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 297,546 shares of the basic materials company’s stock after selling 355,000 shares during the period. Eldorado Gold comprises 5.6% of Equinox Partners Investment Management LLC’s portfolio, making the stock its 8th largest holding. Equinox Partners Investment Management LLC’s holdings in Eldorado Gold were worth $10,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EGO. Goldman Sachs Group Inc. raised its position in Eldorado Gold by 50.0% during the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after acquiring an additional 266,048 shares during the last quarter. Geode Capital Management LLC raised its position in Eldorado Gold by 6.0% during the second quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock worth $2,318,000 after acquiring an additional 6,383 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Eldorado Gold by 1,209.2% during the 2nd 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 during the last quarter. Jump Financial LLC acquired a new stake in Eldorado Gold during the 2nd quarter valued at $859,000. Finally, Cerity Partners LLC grew its holdings in Eldorado Gold by 15.2% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Trading Down 1.4%

Eldorado Gold stock opened at $34.17 on Thursday. Eldorado Gold Corporation has a 52 week low of $19.56 and a 52 week high of $51.16. The stock has a 50-day moving average price of $32.63 and a 200 day moving average price of $36.65. 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 stock has a market cap of $8.92 billion, a PE ratio of 12.16, a P/E/G ratio of 0.20 and a beta of 0.58.

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

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd were issued a $0.075 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.9%. Eldorado Gold’s payout ratio is 10.68%.

Analysts Set New Price Targets

EGO has been the topic of a number of analyst reports. Citigroup cut Eldorado Gold to a “sector perform” rating in a report on Monday, May 4th. Weiss Ratings cut Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Scotiabank dropped their price objective on Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 21st. TD Securities dropped their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Finally, Canaccord Genuity Group cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Eldorado Gold presently has a consensus rating of “Hold” and an average price target of $44.50.

About Eldorado Gold

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.