Eldorado Gold Corporation $EGO Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP decreased its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,879,102 shares of the basic materials company’s stock after selling 152,795 shares during the period. Eldorado Gold comprises approximately 2.6% of Invenomic Capital Management LP’s investment portfolio, making the stock its 3rd largest holding. Invenomic Capital Management LP owned approximately 0.94% of Eldorado Gold worth $54,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGO. TD Waterhouse Canada Inc. raised its position in Eldorado Gold by 35.4% during the second quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 587 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Eldorado Gold by 7.6% in the second quarter. SBI Securities Co. Ltd. now owns 9,693 shares of the basic materials company’s stock valued at $197,000 after purchasing an additional 687 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Eldorado Gold by 10.7% during the third quarter. EverSource Wealth Advisors LLC now owns 9,406 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 908 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Eldorado Gold by 10.0% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 12,100 shares of the basic materials company’s stock worth $350,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. raised its position in shares of Eldorado Gold by 6.4% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 22,155 shares of the basic materials company’s stock worth $451,000 after purchasing an additional 1,340 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Trading Down 5.4%

Shares of EGO stock opened at $36.73 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.29. Eldorado Gold Corporation has a twelve month low of $14.96 and a twelve month high of $51.16. The company’s 50-day moving average price is $42.63 and its 200-day moving average price is $34.04. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.13 and a beta of 0.51.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $575.14 million for the quarter, compared to analyst estimates of $500.42 million. Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%. As a group, equities analysts predict that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.30 annualized dividend and a yield of 0.8%. Eldorado Gold’s dividend payout ratio (DPR) is 12.10%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EGO shares. Canaccord Genuity Group cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Royal Bank Of Canada cut Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target for the company. in a research report on Tuesday, February 17th. TD Securities decreased their price objective on Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, February 24th. Canadian Imperial Bank of Commerce cut shares of Eldorado Gold from a “sector outperform” rating to a “neutral” rating and set a $54.00 target price on the stock. in a research note on Friday, February 20th. Finally, Bank of America boosted their price target on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.71.

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.