Montrusco Bolton Investments Inc. Increases Stock Holdings in Eldorado Gold Corporation $EGO

Montrusco Bolton Investments Inc. increased its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 41.1% in the third quarter, Holdings Channel.com reports. The fund owned 356,975 shares of the basic materials company’s stock after acquiring an additional 103,975 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Eldorado Gold were worth $10,311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC bought a new position in Eldorado Gold in the 2nd quarter valued at $32,000. TD Waterhouse Canada Inc. raised its position in shares of Eldorado Gold by 35.4% in 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 in the last quarter. State of Wyoming purchased a new stake in shares of Eldorado Gold in the second quarter worth $58,000. Employees Retirement System of Texas bought a new stake in Eldorado Gold during the second quarter valued at $83,000. Finally, Jacobsen Capital Management bought a new position in Eldorado Gold in the 3rd quarter worth about $217,000. Institutional investors own 69.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EGO shares. Royal Bank Of Canada downgraded Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target for the company. in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered 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 research report on Friday, February 20th. TD Cowen cut their price target on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday. National Bank Financial reissued an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Finally, Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. 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 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 Performance

NYSE EGO opened at $44.41 on Thursday. The company has a 50-day simple moving average of $41.27 and a two-hundred day simple moving average of $32.38. Eldorado Gold Corporation has a 12-month low of $13.30 and a 12-month high of $51.16. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 0.19 and a beta of 0.51. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29.

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

Eldorado Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.075 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.30 annualized dividend and a dividend yield of 0.7%.

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.