UBS Group AG Purchases 113,710 Shares of Eldorado Gold Corporation $EGO

UBS Group AG grew its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 78.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 257,858 shares of the basic materials company’s stock after purchasing an additional 113,710 shares during the period. UBS Group AG’s holdings in Eldorado Gold were worth $9,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in Eldorado Gold by 33.9% during the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock worth $476,679,000 after purchasing an additional 4,173,963 shares in the last quarter. Vanguard Group Inc. increased its holdings in Eldorado Gold by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,387,901 shares of the basic materials company’s stock worth $242,226,000 after purchasing an additional 209,947 shares in the last quarter. Jennison Associates LLC increased its holdings in Eldorado Gold by 2.3% during the 3rd quarter. Jennison Associates LLC now owns 8,173,003 shares of the basic materials company’s stock worth $236,118,000 after purchasing an additional 182,780 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Eldorado Gold by 8.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,413,904 shares of the basic materials company’s stock worth $156,364,000 after purchasing an additional 419,576 shares in the last quarter. Finally, Carrhae Capital LLP increased its holdings in Eldorado Gold by 10.6% during the 3rd quarter. Carrhae Capital LLP now owns 4,994,738 shares of the basic materials company’s stock worth $144,298,000 after purchasing an additional 480,253 shares in the last quarter. 69.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EGO has been the subject of a number of recent research reports. Citigroup lowered Eldorado Gold to a “sector perform” rating in a report on Monday, May 4th. ATB Cormark Capital Markets lowered Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Canaccord Genuity Group lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Scotiabank reduced their price objective on Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 21st. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.50.

Eldorado Gold Trading Down 7.9%

NYSE:EGO opened at $31.67 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. Eldorado Gold Corporation has a 1 year low of $17.41 and a 1 year high of $51.16. The company has a market cap of $8.27 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.18 and a beta of 0.56. The stock’s fifty day moving average price is $34.68 and its two-hundred day moving average price is $35.88.

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

Eldorado Gold Dividend Announcement

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

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.