TD Asset Management Inc Raises Stake in Eldorado Gold Corporation $EGO

TD Asset Management Inc raised its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 55.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,230,638 shares of the basic materials company’s stock after acquiring an additional 439,583 shares during the quarter. TD Asset Management Inc owned approximately 0.62% of Eldorado Gold worth $44,288,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EGO. Van ECK Associates Corp lifted its stake in Eldorado Gold by 33.9% in the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after acquiring an additional 4,173,963 shares during the last quarter. TT International Asset Management LTD lifted its stake in Eldorado Gold by 1,730.9% in the fourth quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock worth $26,916,000 after acquiring an additional 710,290 shares during the last quarter. Schroder Investment Management Group lifted its stake in Eldorado Gold by 94.9% in the third quarter. Schroder Investment Management Group now owns 1,448,558 shares of the basic materials company’s stock worth $41,240,000 after acquiring an additional 705,140 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Eldorado Gold in the second quarter worth approximately $13,387,000. Finally, Penn Capital Management Company LLC purchased a new position in Eldorado Gold in the fourth quarter worth approximately $18,303,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EGO. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada downgraded shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective for the company. in a research report on Tuesday, February 17th. Citigroup downgraded shares of Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 7th. Finally, 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 objective for the company. in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.50.

Eldorado Gold Stock Down 7.7%

Shares of NYSE:EGO opened at $29.53 on Friday. The company has a market capitalization of $7.71 billion, a PE ratio of 10.51, a P/E/G ratio of 0.17 and a beta of 0.58. 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 Corporation has a twelve month low of $19.56 and a twelve month high of $51.16. The firm has a 50 day simple moving average of $33.17 and a 200-day simple moving average of $36.44.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.26. The business had revenue of $532.43 million during the quarter, compared to the consensus estimate of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. On average, equities analysts predict that Eldorado Gold Corporation will post 4.27 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

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

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.