Schroder Investment Management Group Buys 705,140 Shares of Eldorado Gold Corporation $EGO

Schroder Investment Management Group raised its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 94.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,448,558 shares of the basic materials company’s stock after purchasing an additional 705,140 shares during the period. Schroder Investment Management Group’s holdings in Eldorado Gold were worth $41,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Eldorado Gold in the 2nd quarter worth approximately $32,000. TD Waterhouse Canada Inc. raised its holdings in Eldorado Gold by 35.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock valued at $46,000 after buying an additional 587 shares during the period. State of Wyoming purchased a new stake in Eldorado Gold during the 2nd quarter valued at $58,000. Employees Retirement System of Texas bought a new stake in Eldorado Gold in the second quarter worth $83,000. Finally, SBI Securities Co. Ltd. lifted its position in Eldorado Gold by 7.6% in the second quarter. SBI Securities Co. Ltd. now owns 9,693 shares of the basic materials company’s stock worth $197,000 after buying an additional 687 shares during the last quarter. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Performance

Shares of NYSE:EGO opened at $40.83 on Thursday. The firm’s 50 day simple moving average is $42.54 and its 200-day simple moving average is $33.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. Eldorado Gold Corporation has a one year low of $14.13 and a one year high of $51.16. The firm has a market cap of $8.11 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 0.15 and a beta of 0.51.

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

Eldorado Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. Eldorado Gold’s payout ratio is 12.10%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EGO. Zacks Research upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st. Bank of America lifted their price target on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Monday, December 1st. Canadian Imperial Bank of Commerce downgraded shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price target on the stock. in a report on Friday, February 20th. Finally, TD Cowen decreased their price objective on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Eldorado Gold currently has a consensus rating of “Hold” and an average price target of $43.71.

About Eldorado Gold

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.