Cibc World Market Inc. Trims Stock Position in Eldorado Gold Corporation $EGO

Cibc World Market Inc. lessened its position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 321,990 shares of the basic materials company’s stock after selling 23,455 shares during the quarter. Cibc World Market Inc.’s holdings in Eldorado Gold were worth $11,572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Eldorado Gold during the second quarter valued at $32,000. Aventura Private Wealth LLC acquired a new stake in Eldorado Gold during the fourth quarter valued at $36,000. Flagship Harbor Advisors LLC acquired a new stake in Eldorado Gold during the fourth quarter valued at $36,000. Wexford Capital LP acquired a new stake in Eldorado Gold during the third quarter valued at $37,000. Finally, State of Wyoming acquired a new stake in Eldorado Gold during the second quarter valued at $58,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on EGO shares. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, April 15th. TD Securities dropped their price target 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. BMO Capital Markets restated an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 15th. Royal Bank Of Canada lowered shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target on the stock. in a research report on Tuesday, February 17th. Finally, ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.50.

Eldorado Gold Stock Performance

EGO opened at $29.53 on Friday. The firm has a market capitalization of $7.71 billion, a PE ratio of 10.51, a PEG ratio of 0.17 and a beta of 0.58. Eldorado Gold Corporation has a twelve month low of $19.56 and a twelve month high of $51.16. The firm’s 50-day moving average price is $33.17 and its 200 day moving average price is $36.44. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. The firm had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. As a group, sell-side analysts expect that Eldorado Gold Corporation will post 4.27 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 1.0%. Eldorado Gold’s payout ratio is presently 10.68%.

Eldorado Gold 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.