Empowered Funds LLC Purchases New Position in Eldorado Gold Corporation $EGO

Empowered Funds LLC purchased a new stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,106,726 shares of the basic materials company’s stock, valued at approximately $34,408,000.

A number of other large investors have also added to or reduced their stakes in the company. Artemis Investment Management LLP bought a new position in shares of Eldorado Gold during the 4th quarter valued at approximately $3,214,000. Jupiter Asset Management Ltd. increased its position in Eldorado Gold by 794.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 109,342 shares of the basic materials company’s stock worth $3,935,000 after purchasing an additional 97,124 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Eldorado Gold by 255.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 123,176 shares of the basic materials company’s stock worth $4,427,000 after purchasing an additional 88,508 shares during the last quarter. L1 Global Manager Pty Ltd purchased a new stake in Eldorado Gold during the fourth quarter valued at $1,437,000. Finally, Bank of America Corp DE raised its stake in Eldorado Gold by 29.4% during the first quarter. Bank of America Corp DE now owns 779,666 shares of the basic materials company’s stock valued at $26,766,000 after purchasing an additional 177,051 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Jefferies Financial Group began coverage on shares of Eldorado Gold in a report on Thursday, August 20th. They issued a “buy” rating and a $50.00 price target for the company. Bank of America lifted their price target on Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada reduced their price objective on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.00.

Eldorado Gold Trading Up 2.4%

EGO stock opened at $48.08 on Friday. 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 $23.81 and a twelve month high of $51.16. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.34 and a beta of 0.63. The firm’s fifty day simple moving average is $34.64 and its two-hundred day simple moving average is $35.46.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. As a group, analysts anticipate that Eldorado Gold Corporation will post 3.23 earnings per share for the current year.

Eldorado Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Eldorado Gold’s dividend payout ratio is 10.64%.

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.