Eldorado Gold Corporation $EGO Holdings Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 9.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 465,300 shares of the basic materials company’s stock after selling 50,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Eldorado Gold were worth $17,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Continuum Advisory LLC acquired a new stake in shares of Eldorado Gold in the second quarter worth $25,000. Parallel Advisors LLC raised its holdings in shares of Eldorado Gold by 977.4% during the third quarter. Parallel Advisors LLC now owns 1,142 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,036 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Eldorado Gold by 217.4% during the third quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 887 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Eldorado Gold during the third quarter worth $58,000. Finally, EFG International AG acquired a new position in Eldorado Gold during the second quarter valued at $62,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Trading Down 0.7%

EGO stock opened at $31.62 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. Eldorado Gold Corporation has a 12-month low of $26.56 and a 12-month high of $51.16. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 0.35 and a beta of 0.67. The business’s 50-day moving average is $37.42 and its 200 day moving average is $36.40.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. The firm had revenue of $511.90 million during the quarter, compared to analysts’ expectations of $621.90 million. On average, sell-side analysts anticipate that Eldorado Gold Corporation will post 2.56 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.0750 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. Eldorado Gold’s dividend payout ratio is presently 10.00%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EGO shares. Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Bank of America raised Eldorado Gold from an “underperform” rating to a “buy” rating and raised their target price for the stock from $32.00 to $54.00 in a report on Tuesday, September 22nd. Jefferies Financial Group began coverage on Eldorado Gold in a research report on Thursday, August 20th. They set a “buy” rating and a $50.00 price target for the company. Zacks Research lowered Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, Royal Bank Of Canada raised their price objective on shares of Eldorado Gold from $37.00 to $41.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.57.

Eldorado Gold Profile

Eldorado Gold Corporation is a Canadian gold mining company headquartered in Vancouver, British Columbia. It explores for, develops and operates mineral properties, with gold as its primary product and silver and base metals also produced at some of its mines. The company’s portfolio spans Canada, Greece and Turkey. Its operations include the Lamaque Complex in Quebec, the Kisladag and Efemcukuru mines in Turkey, and the Olympias mine in Greece. Eldorado is also developing the Skouries copper-gold project in Greece.