Twin Tree Management LP Cuts Stock Holdings in Eldorado Gold Corporation $EGO

Twin Tree Management LP lowered its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 73.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,800 shares of the basic materials company’s stock after selling 24,417 shares during the quarter. Twin Tree Management LP’s holdings in Eldorado Gold were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Montrusco Bolton Investments Inc. grew its stake in shares of Eldorado Gold by 41.1% during the third quarter. Montrusco Bolton Investments Inc. now owns 356,975 shares of the basic materials company’s stock worth $10,311,000 after purchasing an additional 103,975 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Eldorado Gold by 11.8% during the third quarter. Gabelli Funds LLC now owns 1,342,600 shares of the basic materials company’s stock worth $38,788,000 after purchasing an additional 141,900 shares in the last quarter. TT International Asset Management LTD grew its stake in shares of Eldorado Gold by 1,730.9% during the fourth quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock worth $26,916,000 after purchasing an additional 710,290 shares in the last quarter. Sprott Inc. grew its stake in shares of Eldorado Gold by 3.1% during the third quarter. Sprott Inc. now owns 1,915,378 shares of the basic materials company’s stock worth $55,335,000 after purchasing an additional 58,013 shares in the last quarter. Finally, Cibc World Market Inc. grew its stake in shares of Eldorado Gold by 13.4% during the third quarter. Cibc World Market Inc. now owns 345,445 shares of the basic materials company’s stock worth $9,974,000 after purchasing an additional 40,729 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

NYSE EGO opened at $29.22 on Wednesday. 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 $19.56 and a 1 year high of $51.16. The company has a market capitalization of $7.63 billion, a PE ratio of 10.40, a P/E/G ratio of 0.17 and a beta of 0.58. The company has a fifty day moving average of $33.02 and a two-hundred day moving average of $36.52.

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

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 2nd. Eldorado Gold’s dividend payout ratio is currently 10.68%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EGO. TD Cowen lowered their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings downgraded shares of Eldorado Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 7th. Canaccord Genuity Group downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Zacks Research downgraded shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.50.

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.