Eldorado Gold Corporation $EGO Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 39.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,678,256 shares of the basic materials company’s stock after purchasing an additional 5,241,277 shares during the quarter. Van ECK Associates Corp owned about 0.07% of Eldorado Gold worth $580,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Headlands Technologies LLC bought a new position in Eldorado Gold during the 2nd quarter worth $32,000. Smartleaf Asset Management LLC bought a new stake in Eldorado Gold in the fourth quarter valued at $33,000. Wexford Capital LP bought a new stake in Eldorado Gold in the third quarter valued at $37,000. State of Wyoming acquired a new position in shares of Eldorado Gold during the second quarter valued at $58,000. Finally, EFG International AG bought a new position in shares of Eldorado Gold during the second quarter worth about $62,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

Shares of EGO opened at $45.48 on Friday. Eldorado Gold Corporation has a one year low of $23.95 and a one year high of $51.16. The stock’s fifty day moving average is $34.89 and its 200-day moving average is $35.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 0.35 and a beta of 0.63.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The firm had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. Equities analysts anticipate that Eldorado Gold Corporation will post 3.23 EPS for the current year.

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.64%.

Wall Street Analyst Weigh In

EGO has been the topic of a number of analyst reports. Scotiabank dropped their price objective on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. Citigroup cut shares of Eldorado Gold to a “sector perform” rating in a research report on Monday, May 4th. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Finally, Zacks Research downgraded Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Eldorado Gold presently has a consensus rating of “Hold” and a consensus price target of $43.00.

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.