Deutsche Bank AG Purchases New Stake in Eldorado Gold Corporation $EGO

Deutsche Bank AG acquired a new position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,443,930 shares of the basic materials company’s stock, valued at approximately $44,892,000.

Several other hedge funds have also recently bought and sold shares of EGO. L1 Capital Pty Ltd raised its position in shares of Eldorado Gold by 35.2% in the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after buying an additional 2,512,168 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after buying an additional 1,631,373 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Eldorado Gold by 490.6% during the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock worth $64,193,000 after buying an additional 1,484,503 shares in the last quarter. FIL Ltd bought a new position in shares of Eldorado Gold in the 4th quarter valued at $35,473,000. Finally, Cape Ann Asset Management Ltd acquired a new stake in shares of Eldorado Gold during the first quarter valued at about $26,045,000. 69.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EGO shares. Jefferies Financial Group started coverage on shares of Eldorado Gold in a report on Thursday. They set a “buy” rating and a $50.00 price target on the stock. Citigroup lowered Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. Royal Bank Of Canada cut their target price on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, August 9th. Finally, Bank of America raised their price objective on Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Eldorado Gold has an average rating of “Hold” and a consensus price target of $43.00.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $45.83 on Friday. The company has a market capitalization of $11.98 billion, a PE ratio of 16.25, a P/E/G ratio of 0.31 and a beta of 0.63. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. Eldorado Gold Corporation has a twelve month low of $22.66 and a twelve month high of $51.16. The firm has a fifty day simple moving average of $33.56 and a 200 day simple moving average of $35.25.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The business had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. On average, sell-side analysts forecast that Eldorado Gold Corporation will post 3.2 EPS for the current year.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. Eldorado Gold’s dividend payout ratio is presently 10.64%.

Eldorado Gold 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.