TD Asset Management Inc Raises Stake in Eldorado Gold Corporation $EGO

TD Asset Management Inc raised its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 30.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 791,055 shares of the basic materials company’s stock after purchasing an additional 185,640 shares during the quarter. TD Asset Management Inc’s holdings in Eldorado Gold were worth $22,849,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in EGO. Arrowstreet Capital Limited Partnership increased its stake in shares of Eldorado Gold by 228.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,994,328 shares of the basic materials company’s stock worth $101,649,000 after acquiring an additional 3,472,504 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Eldorado Gold during the 2nd quarter valued at $13,387,000. Acadian Asset Management LLC bought a new position in shares of Eldorado Gold in the second quarter worth approximately $11,023,000. Qube Research & Technologies Ltd raised its position in shares of Eldorado Gold by 241.4% during the second quarter. Qube Research & Technologies Ltd now owns 682,945 shares of the basic materials company’s stock valued at $13,891,000 after buying an additional 482,915 shares during the last quarter. Finally, Ruffer LLP lifted 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 worth $40,814,000 after purchasing an additional 319,187 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Trading Up 2.2%

Shares of EGO stock opened at $46.52 on Friday. The company has a 50 day moving average price of $41.71 and a 200 day moving average price of $32.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. The stock has a market capitalization of $9.24 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 0.20 and a beta of 0.51. Eldorado Gold Corporation has a fifty-two week low of $13.30 and a fifty-two week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%.The firm had revenue of $575.14 million for the quarter, compared to analysts’ expectations of $500.42 million. Equities research analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.6%.

Analyst Upgrades and Downgrades

EGO has been the subject of a number of recent research reports. Royal Bank Of Canada cut Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price for the company. in a report on Tuesday, February 17th. National Bank Financial reissued an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Scotiabank dropped their target price on Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Canadian Imperial Bank of Commerce lowered shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price on the stock. in a research note on Friday, February 20th. Finally, Canaccord Genuity Group lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Three equities 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.71.

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.