709,550 Shares in Eldorado Gold Corporation $EGO Acquired by Heartland Advisors Inc.

Key Points

• Heartland Advisors acquired 709,550 Eldorado Gold shares worth approximately $22.1 million, giving it a 0.27% stake and making EGO its 19th-largest holding. Institutional investors collectively own 69.58% of the company.
• Eldorado Gold reported quarterly EPS of $0.54, slightly exceeding estimates of $0.52, while revenue of $487.5 million fell short of the $529.9 million consensus forecast. Analysts’ consensus rating remains Hold, with an average price target of $43.
• The company declared a quarterly dividend of $0.075 per share, equivalent to $0.30 annually and a 0.7% yield. Shares opened at $45.83, compared with a 52-week range of $22.66 to $51.16.

Heartland Advisors Inc. acquired a new stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 709,550 shares of the basic materials company's stock, valued at approximately $22,060,000. Eldorado Gold comprises approximately 1.0% of Heartland Advisors Inc.'s investment portfolio, making the stock its 19th biggest holding. Heartland Advisors Inc. owned about 0.27% of Eldorado Gold at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGO. Smartleaf Asset Management LLC purchased a new stake in shares of Eldorado Gold during the fourth quarter worth $33,000. Wexford Capital LP purchased a new position in shares of Eldorado Gold in the third quarter worth about $37,000. Headlands Technologies LLC purchased a new position in shares of Eldorado Gold in the second quarter worth about $32,000. EFG International AG acquired a new position in Eldorado Gold during the fourth quarter worth about $72,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in 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 Stock Performance

NYSE:EGO opened at $45.83 on Friday. The company's 50-day moving average is $33.56 and its two-hundred day moving average is $35.25. Eldorado Gold Corporation has a 1-year low of $22.66 and a 1-year high of $51.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.31 and a beta of 0.63.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $487.50 million during the quarter, compared to the consensus estimate of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. Analysts forecast that Eldorado Gold Corporation will post 3.2 EPS for the current year.

Eldorado Gold Dividend Announcement

The firm 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. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Eldorado Gold's dividend payout ratio is presently 10.64%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Eldorado Gold from $31.00 to $33.00 and gave the company an "underperform" rating in a research note on Thursday, July 9th. Zacks Research lowered shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Jefferies Financial Group started coverage on Eldorado Gold in a report on Thursday. They set a "buy" rating and a $50.00 target price on the stock. Citigroup lowered Eldorado Gold to a "sector perform" rating in a research report on Monday, May 4th. Finally, Scotiabank cut their price target on Eldorado Gold from $55.00 to $47.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Eldorado Gold presently has a consensus rating of "Hold" and a consensus target price of $43.00.

Eldorado Gold Company 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.

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