67,090 Shares in Eldorado Gold Corporation $EGO Acquired by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd purchased a new position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 67,090 shares of the basic materials company’s stock, valued at approximately $2,086,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EGO. L1 Capital Pty Ltd increased its stake in Eldorado Gold by 35.2% in the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after purchasing an additional 2,512,168 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Eldorado Gold by 2.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock worth $199,274,000 after buying an additional 132,170 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Eldorado Gold by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,113,413 shares of the basic materials company’s stock worth $175,522,000 after buying an additional 54,964 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Eldorado Gold by 904.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after buying an additional 1,631,373 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Eldorado Gold by 490.6% in the 4th quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock valued at $64,193,000 after buying an additional 1,484,503 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Trading Down 0.1%

NYSE EGO opened at $39.69 on Monday. Eldorado Gold Corporation has a one year low of $21.84 and a one year high of $51.16. The company’s 50 day moving average price is $32.33 and its 200 day moving average price is $35.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.29 and a beta of 0.63.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The firm had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. On average, sell-side analysts predict that Eldorado Gold Corporation will post 3.2 EPS for the current year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Eldorado Gold’s dividend payout ratio is 10.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Scotiabank decreased their target price on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Stifel Nicolaus raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Citigroup downgraded shares of Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a report on Sunday, August 9th. Finally, Bank of America boosted their price objective on shares of Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.83.

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.