Empowered Funds LLC Purchases Shares of 1,106,726 Eldorado Gold Corporation $EGO

Empowered Funds LLC purchased a new position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,106,726 shares of the basic materials company’s stock, valued at approximately $34,408,000. Empowered Funds LLC owned approximately 0.42% of Eldorado Gold as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Eldorado Gold during the 2nd quarter valued at approximately $587,469,000. Donald Smith & CO. Inc. bought a new stake in Eldorado Gold during the 2nd quarter worth approximately $272,580,000. L1 Capital Pty Ltd raised its stake in 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 worth $346,283,000 after acquiring an additional 2,512,168 shares during the period. Mackenzie Financial Corp lifted its holdings in Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock valued at $65,322,000 after purchasing an additional 1,631,373 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Eldorado Gold by 490.6% during the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock valued at $64,193,000 after purchasing an additional 1,484,503 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Analyst Ratings Changes

EGO has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, August 9th. Jefferies Financial Group started coverage on shares of Eldorado Gold in a research note on Thursday, August 20th. They set a “buy” rating and a $50.00 target price on the stock. Scotiabank dropped their target price on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Finally, Citigroup cut Eldorado Gold to a “sector perform” rating in a report on Monday, May 4th. Two 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 given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.00.

Eldorado Gold Trading Up 2.4%

EGO stock opened at $48.08 on Friday. Eldorado Gold Corporation has a 1-year low of $23.81 and a 1-year high of $51.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.34 and a beta of 0.63. The business has a 50 day simple moving average of $34.64 and a two-hundred day simple moving average 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The firm had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. 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 declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Eldorado Gold’s payout ratio is currently 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.