Montrusco Bolton Investments Inc. Purchases 103,975 Shares of Eldorado Gold Corporation $EGO

Montrusco Bolton Investments Inc. grew its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 41.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 356,975 shares of the basic materials company’s stock after purchasing an additional 103,975 shares during the period. Montrusco Bolton Investments Inc. owned about 0.18% of Eldorado Gold worth $10,311,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in EGO. Vanguard Group Inc. grew its stake in Eldorado Gold by 2.6% during the third quarter. Vanguard Group Inc. now owns 8,387,901 shares of the basic materials company’s stock worth $242,226,000 after buying an additional 209,947 shares in the last quarter. Jennison Associates LLC raised its position in Eldorado Gold by 2.3% during the third quarter. Jennison Associates LLC now owns 8,173,003 shares of the basic materials company’s stock valued at $236,118,000 after purchasing an additional 182,780 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Eldorado Gold by 228.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,994,328 shares of the basic materials company’s stock worth $101,649,000 after purchasing an additional 3,472,504 shares during the last quarter. Ruffer LLP boosted its holdings in shares of Eldorado Gold by 29.2% in the 3rd quarter. Ruffer LLP now owns 1,412,740 shares of the basic materials company’s stock valued at $40,814,000 after purchasing an additional 319,187 shares in the last quarter. Finally, Candriam S.C.A. raised its holdings in shares of Eldorado Gold by 8.3% during the 3rd quarter. Candriam S.C.A. now owns 1,270,400 shares of the basic materials company’s stock worth $36,702,000 after buying an additional 97,900 shares in the last quarter. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Performance

Shares of EGO stock opened at $44.41 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 0.19 and a beta of 0.51. Eldorado Gold Corporation has a 52 week low of $13.30 and a 52 week high of $51.16. The firm’s 50-day simple moving average is $41.27 and its two-hundred day simple moving average is $32.38.

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

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 27th.

Wall Street Analysts Forecast Growth

EGO has been the topic of a number of research analyst reports. Scotiabank cut their target price on shares of Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Bank of America upped their price target on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday, December 1st. TD Cowen dropped their target price on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday. Royal Bank Of Canada downgraded shares of 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. Finally, TD Securities lowered their target price on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.