207,426 Eldorado Gold Corporation $EGO Shares Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Eldorado Gold stake 583.1% in the third quarter, buying 207,426 shares to hold 243,000 shares worth about $9.4 million. Institutional investors collectively own 69.58% of the company.
• Analyst views are mixed, but the consensus rating is Moderate Buy, with a $46.57 price target. Recommendations range from strong buys to sell ratings.
• Eldorado Gold’s latest quarter fell short of forecasts, reporting $0.49 earnings per share versus $0.53 expected and $511.9 million in revenue versus $621.9 million expected. The company also announced a quarterly dividend of $0.075 per share.

Candriam S.C.A. boosted its holdings in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 583.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 243,000 shares of the basic materials company's stock after buying an additional 207,426 shares during the quarter. Candriam S.C.A. owned 0.09% of Eldorado Gold worth $9,387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EGO. Parallel Advisors LLC grew its stake in shares of Eldorado Gold by 977.4% in the third quarter. Parallel Advisors LLC now owns 1,142 shares of the basic materials company's stock worth $44,000 after acquiring an additional 1,036 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Eldorado Gold by 4.4% during the third quarter. Alps Advisors Inc. now owns 166,927 shares of the basic materials company's stock worth $6,425,000 after acquiring an additional 7,088 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Eldorado Gold in the third quarter valued at $305,000. Commonwealth Equity Services LLC raised its stake in shares of Eldorado Gold by 4.8% in the third quarter. Commonwealth Equity Services LLC now owns 7,895 shares of the basic materials company's stock valued at $304,000 after acquiring an additional 360 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in shares of Eldorado Gold by 9.7% in the third quarter. Profund Advisors LLC now owns 20,747 shares of the basic materials company's stock valued at $799,000 after acquiring an additional 1,828 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on EGO. Zacks Research cut Eldorado Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, October 19th. Royal Bank Of Canada increased their price target on Eldorado Gold from $37.00 to $41.00 and gave the company a "sector perform" rating in a research report on Wednesday, September 16th. Jefferies Financial Group assumed coverage on Eldorado Gold in a research report on Thursday, August 20th. They issued a "buy" rating and a $50.00 price target on the stock. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a "neutral" rating to an "outperform" rating in a research note on Sunday, August 9th. Finally, Wall Street Zen downgraded Eldorado Gold from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.57.

Eldorado Gold Stock Performance

NYSE:EGO opened at $37.39 on Tuesday. The firm has a market capitalization of $9.78 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.35 and a beta of 0.67. The business's fifty day moving average price is $38.26 and its 200 day moving average price is $36.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.42 and a quick ratio of 0.84. Eldorado Gold Corporation has a 12 month low of $26.56 and a 12 month high of $51.16.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The business had revenue of $511.90 million during the quarter, compared to analyst estimates of $621.90 million. Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. On average, sell-side analysts anticipate that Eldorado Gold Corporation will post 2.69 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a $0.0750 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. Eldorado Gold's dividend payout ratio is presently 10.00%.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company headquartered in Vancouver, British Columbia. It explores for, develops and operates mineral properties, with gold as its primary product and silver and base metals also produced at some of its mines.

The company's portfolio spans Canada, Greece and Turkey. Its operations include the Lamaque Complex in Quebec, the Kisladag and Efemcukuru mines in Turkey, and the Olympias mine in Greece. Eldorado is also developing the Skouries copper-gold project in Greece.

Eldorado traces its origins to 1992 and has expanded through exploration, acquisitions and mine development.

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