Jupiter Topco LLC Makes New $3.62 Million Investment in Eldorado Gold Corporation $EGO

Jupiter Topco LLC bought a new position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 116,266 shares of the basic materials company’s stock, valued at approximately $3,621,000.

A number of other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in Eldorado Gold by 50.0% in the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after purchasing an additional 266,048 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Eldorado Gold by 6.0% in the 2nd quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock worth $2,318,000 after buying an additional 6,383 shares during the period. JPMorgan Chase & Co. grew its position in shares of 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 buying an additional 313,449 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Eldorado Gold during the second quarter valued at $859,000. Finally, Cerity Partners LLC increased its stake in shares of Eldorado Gold by 15.2% during the second 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 period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

Shares of EGO stock opened at $42.86 on Wednesday. The stock’s 50-day moving average is $35.37 and its 200 day moving average is $35.47. Eldorado Gold Corporation has a 1-year low of $24.36 and a 1-year high of $51.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. The company has a market cap of $11.20 billion, a P/E ratio of 15.20, a PEG ratio of 0.33 and a beta of 0.70.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $529.92 million. Research analysts predict that Eldorado Gold Corporation will post 3.23 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

The company 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 of this dividend is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. Eldorado Gold’s dividend payout ratio is presently 10.64%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Scotiabank lowered their price objective on shares of 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. 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. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Royal Bank Of Canada dropped their price objective on shares of 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. Finally, Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.00.

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.