Erste Asset Management GmbH Lowers Holdings in Eldorado Gold Corporation $EGO

Erste Asset Management GmbH lowered its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 66.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,700 shares of the basic materials company’s stock after selling 61,400 shares during the quarter. Erste Asset Management GmbH’s holdings in Eldorado Gold were worth $874,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Eldorado Gold during the 2nd quarter worth about $32,000. TD Waterhouse Canada Inc. boosted its stake in Eldorado Gold by 35.4% during the second quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock worth $46,000 after buying an additional 587 shares during the period. State of Wyoming acquired a new stake in shares of Eldorado Gold during the second quarter valued at about $58,000. Employees Retirement System of Texas purchased a new stake in shares of Eldorado Gold in the 2nd quarter valued at approximately $83,000. Finally, Jacobsen Capital Management purchased a new stake in shares of Eldorado Gold in the 3rd quarter valued at approximately $217,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EGO has been the subject of several research reports. Canadian Imperial Bank of Commerce downgraded shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a report on Friday, February 20th. TD Cowen lowered their price target on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, February 24th. TD Securities dropped their price objective on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. Scotiabank decreased their target price on Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Bank of America raised their target price on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Monday, December 1st. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $43.71.

Eldorado Gold Stock Up 2.2%

Eldorado Gold stock opened at $46.52 on Monday. The firm has a market capitalization of $9.24 billion, a P/E ratio of 18.76, a P/E/G ratio of 0.16 and a beta of 0.51. The company has a current ratio of 1.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.29. Eldorado Gold Corporation has a twelve month low of $13.30 and a twelve month high of $51.16. The stock’s fifty day simple moving average is $41.71 and its 200-day simple moving average is $32.78.

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

Eldorado Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.30 annualized dividend and a yield of 0.6%. Eldorado Gold’s dividend payout ratio (DPR) is 12.10%.

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.