Legal & General Group Plc Raises Stake in Eldorado Gold Corporation $EGO

Legal & General Group Plc grew its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 8.2% during the 4th quarter, HoldingsChannel reports. The firm owned 711,451 shares of the basic materials company’s stock after buying an additional 54,193 shares during the quarter. Legal & General Group Plc’s holdings in Eldorado Gold were worth $25,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of EGO. Goldman Sachs Group Inc. boosted its position in Eldorado Gold by 50.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after purchasing an additional 266,048 shares in the last quarter. Geode Capital Management LLC boosted its position in Eldorado Gold by 6.0% in the 2nd quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock worth $2,318,000 after purchasing an additional 6,383 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Eldorado Gold by 1,209.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock worth $6,903,000 after purchasing an additional 313,449 shares in the last quarter. Jump Financial LLC purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $859,000. Finally, Cerity Partners LLC raised its stake in shares of Eldorado Gold by 15.2% during the 2nd quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company’s stock worth $733,000 after buying an additional 4,758 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EGO shares. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. TD Securities reduced their target price on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Citigroup downgraded Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. TD Cowen reduced their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Finally, Zacks Research downgraded Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.50.

Eldorado Gold Stock Up 0.1%

Shares of EGO opened at $33.87 on Monday. Eldorado Gold Corporation has a 52-week low of $19.56 and a 52-week high of $51.16. The company has a market capitalization of $8.84 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.20 and a beta of 0.58. The stock has a fifty day simple moving average of $33.26 and a two-hundred day simple moving average of $36.37. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.27.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. The business had revenue of $532.43 million during the quarter, compared to analysts’ expectations of $503.31 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. As a group, equities analysts forecast that Eldorado Gold Corporation will post 4.27 EPS for the current year.

Eldorado Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.075 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. Eldorado Gold’s dividend payout ratio is currently 10.68%.

Eldorado Gold 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.