762,649 Shares in Eldorado Gold Corporation $EGO Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 762,649 shares of the basic materials company’s stock, valued at approximately $23,688,000. The Manufacturers Life Insurance Company owned about 0.29% of Eldorado Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of EGO. Artemis Investment Management LLP purchased a new stake in shares of Eldorado Gold during the 4th quarter valued at $3,214,000. Jupiter Asset Management Ltd. raised its position in shares of Eldorado Gold by 794.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 109,342 shares of the basic materials company’s stock worth $3,935,000 after buying an additional 97,124 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Eldorado Gold by 255.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 123,176 shares of the basic materials company’s stock worth $4,427,000 after buying an additional 88,508 shares during the period. L1 Global Manager Pty Ltd purchased a new position in shares of Eldorado Gold in the 4th quarter worth $1,437,000. Finally, Bank of America Corp DE boosted its holdings in Eldorado Gold by 29.4% in 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 acquiring an additional 177,051 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on EGO. Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Citigroup lowered Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. Weiss Ratings cut Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and a consensus price target of $43.00.

Eldorado Gold Stock Up 2.4%

Shares of NYSE EGO opened at $48.08 on Friday. Eldorado Gold Corporation has a 12-month low of $23.81 and a 12-month high of $51.16. The company has a market cap of $12.56 billion, a P/E ratio of 17.05, a P/E/G ratio of 0.34 and a beta of 0.63. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $34.64 and a 200 day moving average price of $35.46.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data 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. The company had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%. Research analysts anticipate that Eldorado Gold Corporation will post 3.23 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Eldorado Gold’s dividend payout ratio (DPR) is presently 10.64%.

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.