Eldorado Gold Corporation $EGO Stock Position Trimmed by Invenomic Capital Management LP

Invenomic Capital Management LP reduced its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 20.4% during the fourth quarter, HoldingsChannel reports. The firm owned 1,496,283 shares of the basic materials company’s stock after selling 382,819 shares during the period. Eldorado Gold comprises about 2.5% of Invenomic Capital Management LP’s portfolio, making the stock its 5th biggest holding. Invenomic Capital Management LP’s holdings in Eldorado Gold were worth $53,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in EGO. Van ECK Associates Corp raised its position in shares of Eldorado Gold by 33.9% during the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock valued at $476,679,000 after buying an additional 4,173,963 shares in the last quarter. L1 Capital Pty Ltd raised its position in shares of Eldorado Gold by 35.2% during the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after buying an additional 2,512,168 shares in the last quarter. FIL Ltd purchased a new stake in shares of Eldorado Gold during the 4th quarter valued at $35,473,000. TT International Asset Management LTD raised its position in shares of Eldorado Gold by 1,730.9% during the 4th quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock valued at $26,916,000 after buying an additional 710,290 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Eldorado Gold by 94.9% during the 3rd quarter. Schroder Investment Management Group now owns 1,448,558 shares of the basic materials company’s stock valued at $41,240,000 after buying an additional 705,140 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. TD Cowen lowered their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Scotiabank cut their price objective on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 21st. Finally, Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.50.

Eldorado Gold Price Performance

EGO stock opened at $34.17 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. Eldorado Gold Corporation has a 52 week low of $19.56 and a 52 week high of $51.16. The firm’s fifty day moving average is $32.63 and its 200 day moving average is $36.65. The firm has a market cap of $8.92 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.20 and a beta of 0.58.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The company had revenue of $532.43 million for the quarter, compared to the consensus estimate of $503.31 million. Research analysts predict that Eldorado Gold Corporation will post 4.27 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio is presently 10.68%.

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.