409,853 Shares in Eldorado Gold Corporation $EGO Bought by PSquared Asset Management AG

PSquared Asset Management AG bought a new stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 409,853 shares of the basic materials company’s stock, valued at approximately $12,756,000. Eldorado Gold accounts for about 4.2% of PSquared Asset Management AG’s holdings, making the stock its 10th largest holding.

A number of other hedge funds have also recently made changes to their positions in EGO. Savant Capital LLC grew its holdings in shares of Eldorado Gold by 2.7% during the fourth quarter. Savant Capital LLC now owns 14,135 shares of the basic materials company’s stock worth $508,000 after purchasing an additional 371 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Eldorado Gold by 0.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company’s stock valued at $1,794,000 after buying an additional 582 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Eldorado Gold by 8.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company’s stock valued at $351,000 after buying an additional 819 shares during the last quarter. Smartleaf Asset Management LLC acquired a new stake in Eldorado Gold during the 4th quarter worth approximately $33,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Eldorado Gold by 8.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,904 shares of the basic materials company’s stock worth $428,000 after buying an additional 949 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Stock Up 2.4%

Eldorado Gold stock opened at $48.08 on Friday. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.34 and a beta of 0.63. Eldorado Gold Corporation has a 52-week low of $23.81 and a 52-week high of $51.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The firm has a 50 day moving average price of $34.64 and a two-hundred day moving average price of $35.46.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The company had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. Equities analysts predict that Eldorado Gold Corporation will post 3.23 EPS for the current year.

Eldorado Gold Dividend Announcement

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

Analyst Ratings Changes

EGO has been the subject of several recent research reports. Citigroup cut shares of Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. Royal Bank Of Canada cut their price target on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group started coverage on shares of Eldorado Gold in a research note on Thursday, August 20th. They issued a “buy” rating and a $50.00 price objective on the stock. ATB Cormark Capital Markets downgraded Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Zacks Research lowered Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.