Eldorado Gold Corporation $EGO Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 2.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,387,901 shares of the basic materials company’s stock after buying an additional 209,947 shares during the quarter. Vanguard Group Inc.’s holdings in Eldorado Gold were worth $242,226,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Ruffer LLP increased its stake in Eldorado Gold by 29.2% in the 3rd quarter. Ruffer LLP now owns 1,412,740 shares of the basic materials company’s stock valued at $40,814,000 after purchasing an additional 319,187 shares in the last quarter. TT International Asset Management LTD acquired a new stake in Eldorado Gold in the third quarter valued at $1,186,000. Penserra Capital Management LLC acquired a new stake in Eldorado Gold in the third quarter valued at $506,000. American Century Companies Inc. increased its position in shares of Eldorado Gold by 8.4% in the second quarter. American Century Companies Inc. now owns 1,146,359 shares of the basic materials company’s stock valued at $23,332,000 after buying an additional 88,752 shares in the last quarter. Finally, Cibc World Market Inc. raised its stake in shares of Eldorado Gold by 13.4% during the 3rd quarter. Cibc World Market Inc. now owns 345,445 shares of the basic materials company’s stock worth $9,974,000 after buying an additional 40,729 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Bank of America increased their price target on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday, December 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, January 21st. Royal Bank Of Canada lowered Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price on the stock. in a research note on Tuesday, February 17th. Finally, National Bank Financial reissued an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.71.

Eldorado Gold Stock Performance

Shares of EGO opened at $46.52 on Friday. Eldorado Gold Corporation has a 1 year low of $13.30 and a 1 year high of $51.16. The company’s 50 day simple moving average is $41.71 and its 200 day simple moving average is $32.71. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 0.20 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The business had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million. On average, sell-side analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid 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 Friday, February 27th.

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.