Eldorado Gold Corporation $EGO Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,480,848 shares of the basic materials company’s stock after selling 597,057 shares during the quarter. Jennison Associates LLC’s holdings in Eldorado Gold were worth $256,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of EGO. Goldman Sachs Group Inc. increased its holdings in shares of Eldorado Gold by 50.0% in 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 acquiring an additional 266,048 shares during the period. Geode Capital Management LLC boosted its stake in Eldorado Gold by 6.0% during the 2nd quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock worth $2,318,000 after purchasing an additional 6,383 shares during the period. JPMorgan Chase & Co. grew its position 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 worth $6,903,000 after purchasing an additional 313,449 shares during the last quarter. Jump Financial LLC purchased a new position in Eldorado Gold during the 2nd quarter worth $859,000. Finally, Cerity Partners LLC increased its stake in 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 purchasing an additional 4,758 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EGO has been the subject of several recent research reports. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, April 15th. Scotiabank reduced their price objective on 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. Royal Bank Of Canada decreased their price objective on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. Finally, Bank of America lifted their target price on Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.83.

Eldorado Gold Stock Down 0.3%

Shares of Eldorado Gold stock opened at $27.94 on Friday. Eldorado Gold Corporation has a one year low of $19.70 and a one year high of $51.16. The company has a market cap of $7.30 billion, a P/E ratio of 9.94, a PEG ratio of 0.16 and a beta of 0.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. The firm has a fifty day moving average of $31.65 and a two-hundred day moving average of $36.19.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share 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 business had revenue of $532.43 million for the quarter, compared to the consensus estimate of $503.31 million. On average, analysts forecast that Eldorado Gold Corporation will post 3.87 earnings per share for the current year.

Eldorado Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were given a $0.075 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 1.1%. Eldorado Gold’s dividend payout ratio (DPR) is presently 10.68%.

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.