Eldorado Gold Corporation $EGO Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP reduced its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,879,102 shares of the basic materials company’s stock after selling 152,795 shares during the quarter. Eldorado Gold accounts for 2.6% of Invenomic Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Invenomic Capital Management LP’s holdings in Eldorado Gold were worth $54,287,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. TD Waterhouse Canada Inc. increased its holdings in Eldorado Gold by 35.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 587 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Eldorado Gold by 7.6% during the second quarter. SBI Securities Co. Ltd. now owns 9,693 shares of the basic materials company’s stock worth $197,000 after purchasing an additional 687 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Eldorado Gold by 10.7% during the third quarter. EverSource Wealth Advisors LLC now owns 9,406 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 908 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Eldorado Gold by 10.0% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 12,100 shares of the basic materials company’s stock worth $350,000 after buying an additional 1,100 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of Eldorado Gold by 6.4% in the second quarter. Northwest & Ethical Investments L.P. now owns 22,155 shares of the basic materials company’s stock valued at $451,000 after buying an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on EGO shares. Bank of America raised their target price on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Monday, December 1st. TD Cowen dropped their price objective on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. Royal Bank Of Canada downgraded shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price on the stock. in a research note on Tuesday, February 17th. TD Securities dropped 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, February 24th. Finally, Zacks Research upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.71.

Eldorado Gold Price Performance

Shares of EGO opened at $36.73 on Monday. Eldorado Gold Corporation has a twelve month low of $14.96 and a twelve month high of $51.16. The firm’s fifty day simple moving average is $42.63 and its 200-day simple moving average is $34.04. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.13 and a beta of 0.51. The company has a current ratio of 1.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.29.

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

Eldorado Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.075 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. Eldorado Gold’s dividend payout ratio is presently 12.10%.

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.