Persistent Asset Partners Ltd Buys Shares of 67,090 Eldorado Gold Corporation $EGO

Persistent Asset Partners Ltd bought a new stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 67,090 shares of the basic materials company’s stock, valued at approximately $2,086,000.

A number of other hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC acquired a new position in Eldorado Gold during the 4th quarter worth $33,000. Wexford Capital LP bought a new stake in shares of Eldorado Gold in the 3rd quarter worth about $37,000. Headlands Technologies LLC acquired a new stake in shares of Eldorado Gold in the 2nd quarter valued at about $32,000. EFG International AG acquired a new stake in shares of Eldorado Gold in the 4th quarter valued at about $72,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Eldorado Gold during the fourth quarter worth about $98,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $39.69 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. Eldorado Gold Corporation has a fifty-two week low of $21.84 and a fifty-two week high of $51.16. The firm has a 50-day simple moving average of $32.33 and a 200 day simple moving average of $35.36. The company has a market cap of $10.37 billion, a PE ratio of 14.07, a P/E/G ratio of 0.29 and a beta of 0.63.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%.The company had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. On average, sell-side analysts anticipate that Eldorado Gold Corporation will post 3.2 EPS for the current year.

Eldorado Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.075 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.30 annualized dividend and a yield of 0.8%. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.64%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EGO shares. Weiss Ratings lowered Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Zacks Research downgraded Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. ATB Cormark Capital Markets lowered Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 4th. Bank of America boosted their price target on Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada dropped their price target on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold presently has an average rating of “Hold” and a consensus target price of $41.83.

About Eldorado Gold

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.