Pictet Asset Management Holding SA Reduces Stock Position in Eldorado Gold Corporation $EGO

Pictet Asset Management Holding SA cut its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 28.2% during the first quarter, Holdings Channel reports. The firm owned 88,435 shares of the basic materials company’s stock after selling 34,741 shares during the period. Pictet Asset Management Holding SA’s holdings in Eldorado Gold were worth $3,032,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of Eldorado Gold by 33.9% during 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 purchasing an additional 4,173,963 shares during the period. L1 Capital Pty Ltd lifted 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 valued at $346,283,000 after acquiring an additional 2,512,168 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Eldorado Gold by 2.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock valued at $199,274,000 after acquiring an additional 132,170 shares during the period. Dimensional Fund Advisors LP lifted its stake in Eldorado Gold by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,058,449 shares of the basic materials company’s stock valued at $181,701,000 after acquiring an additional 247,916 shares during the period. Finally, Carrhae Capital LLP boosted its holdings in shares of Eldorado Gold by 10.6% in the 3rd quarter. Carrhae Capital LLP now owns 4,994,738 shares of the basic materials company’s stock valued at $144,298,000 after acquiring an additional 480,253 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Stock Performance

Shares of EGO stock opened at $33.61 on Friday. 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 12-month low of $19.62 and a 12-month high of $51.16. The business’s 50 day moving average is $31.95 and its two-hundred day moving average is $36.60. The company has a market capitalization of $8.78 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.20 and a beta of 0.62.

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

Eldorado Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were paid a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 0.9%. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.68%.

Wall Street Analysts Forecast Growth

EGO has been the topic of a number of research reports. Zacks Research upgraded shares of Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Scotiabank cut their price target on Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 21st. TD Cowen reduced their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.50.

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.