Eldorado Gold Corporation $EGO Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 55.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,230,638 shares of the basic materials company’s stock after acquiring an additional 439,583 shares during the quarter. TD Asset Management Inc’s holdings in Eldorado Gold were worth $44,288,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Eurizon Capital SGR S.p.A. acquired a new position in shares of Eldorado Gold in the 4th quarter valued at $253,000. Jupiter Asset Management Ltd. increased its holdings in shares of Eldorado Gold by 794.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 109,342 shares of the basic materials company’s stock valued at $3,935,000 after acquiring an additional 97,124 shares during the period. Savant Capital LLC increased its holdings in shares of Eldorado Gold by 2.7% in the 4th quarter. Savant Capital LLC now owns 14,135 shares of the basic materials company’s stock valued at $508,000 after acquiring an additional 371 shares during the period. Geode Capital Management LLC increased its stake in Eldorado Gold by 15.2% in the 4th quarter. Geode Capital Management LLC now owns 139,369 shares of the basic materials company’s stock valued at $5,114,000 after buying an additional 18,438 shares during the period. Finally, Penn Capital Management Company LLC acquired a new position in Eldorado Gold in the 4th quarter valued at $18,303,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EGO. TD Cowen dropped their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. Scotiabank dropped their price objective on shares of Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 21st. Canaccord Genuity Group cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Canadian Imperial Bank of Commerce cut shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 price objective on the stock. in a research note on Friday, February 20th. Finally, Royal Bank Of Canada cut shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective on the stock. in a research note on Tuesday, February 17th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.50.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $29.53 on Friday. The company has a market cap of $7.71 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 0.17 and a beta of 0.58. Eldorado Gold Corporation has a one year low of $19.56 and a one year high of $51.16. The business has a fifty day moving average of $33.17 and a two-hundred day moving average of $36.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62.

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

Eldorado Gold Announces Dividend

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