Cvfg LLC Purchases Shares of 63,010 Eldorado Gold Corporation $EGO

Cvfg LLC purchased a new position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the 1st quarter, Holdings Channel reports. The firm purchased 63,010 shares of the basic materials company’s stock, valued at approximately $2,163,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Eldorado Gold by 33.9% during the third quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock valued at $476,679,000 after buying an additional 4,173,963 shares during the last quarter. L1 Capital Pty Ltd increased its stake in Eldorado Gold by 35.2% during the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock valued at $346,283,000 after acquiring an additional 2,512,168 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Eldorado Gold by 2.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock valued at $199,274,000 after acquiring an additional 132,170 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Eldorado Gold by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,058,449 shares of the basic materials company’s stock valued at $181,701,000 after acquiring an additional 247,916 shares in the last quarter. Finally, Carrhae Capital LLP lifted its position in shares of Eldorado Gold by 10.6% in the 3rd quarter. Carrhae Capital LLP now owns 4,994,738 shares of the basic materials company’s stock worth $144,298,000 after acquiring an additional 480,253 shares during the period. Institutional investors own 69.58% of the company’s stock.

Analyst Upgrades and Downgrades

EGO has been the topic of several recent research reports. Scotiabank decreased their price objective on Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 21st. ATB Cormark Capital Markets cut Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. BMO Capital Markets restated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 15th. Finally, TD Securities decreased their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.50.

Eldorado Gold Stock Down 4.2%

Shares of EGO opened at $32.02 on Wednesday. The business’s 50 day simple moving average is $31.98 and its 200-day simple moving average is $36.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. The company has a market capitalization of $8.37 billion, a P/E ratio of 11.40, a PEG ratio of 0.19 and a beta of 0.62. Eldorado Gold Corporation has a one year low of $19.62 and a one year high of $51.16.

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 (EPS) for the quarter, beating 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, sell-side analysts predict that Eldorado Gold Corporation will post 4.27 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were issued a $0.075 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.9%. Eldorado Gold’s dividend payout ratio (DPR) 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.