U S Global Investors Inc. Makes New $2.89 Million Investment in Eldorado Gold Corporation $EGO

U S Global Investors Inc. acquired a new stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 75,000 shares of the basic materials company’s stock, valued at approximately $2,887,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Eldorado Gold in the 2nd quarter worth approximately $587,469,000. Van ECK Associates Corp lifted its holdings in Eldorado Gold by 39.0% during the 2nd quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock worth $580,739,000 after buying an additional 5,241,277 shares in the last quarter. Donald Smith & CO. Inc. bought a new position in Eldorado Gold in the 2nd quarter valued at $272,580,000. Dimensional Fund Advisors LP boosted its position 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 valued at $175,522,000 after buying an additional 54,964 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake in shares of Eldorado Gold by 5.1% in the 3rd quarter. Ninety One UK Ltd now owns 3,303,287 shares of the basic materials company’s stock valued at $127,246,000 after buying an additional 158,798 shares during the period. 69.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EGO has been the topic of several research reports. Scotiabank cut their price target on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Weiss Ratings raised Eldorado Gold from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Royal Bank Of Canada boosted their price objective on Eldorado Gold from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.57.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock opened at $32.89 on Friday. The company has a market capitalization of $8.60 billion, a PE ratio of 11.66, a PEG ratio of 0.32 and a beta of 0.67. Eldorado Gold Corporation has a 12 month low of $24.44 and a 12 month high of $51.16. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $40.80 and its 200 day simple moving average is $35.45.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $487.50 million during the quarter, compared to analysts’ expectations of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. On average, research analysts predict that Eldorado Gold Corporation will post 3.02 EPS for the current year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.64%.

Eldorado Gold Profile

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado’s operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.