Alberta Investment Management Corp Acquires Shares of 64,293 Eldorado Gold Corporation $EGO

Key Points

• Alberta Investment Management Corp. acquired 64,293 Eldorado Gold shares worth approximately $1.999 million in the second quarter. Institutional investors collectively own 69.58% of the company.
• Analyst sentiment is mixed: Eldorado Gold has an average rating of “Hold” and an average price target of $41.83, with recent rating and target-price changes from several brokerages.
• Eldorado Gold reported quarterly EPS of $0.54, slightly above the $0.52 consensus estimate, while revenue of $487.5 million fell short of expectations. The company also announced a quarterly dividend of $0.075 per share, equivalent to a 0.7% yield.

Alberta Investment Management Corp bought a new stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 64,293 shares of the basic materials company's stock, valued at approximately $1,999,000.

Several other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in Eldorado Gold by 50.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company's stock valued at $13,426,000 after purchasing an additional 266,048 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Eldorado Gold by 6.0% during the second quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company's stock valued at $2,318,000 after buying an additional 6,383 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Eldorado Gold by 1,209.2% in the second quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company's stock worth $6,903,000 after buying an additional 313,449 shares during the period. Jump Financial LLC bought a new stake in shares of Eldorado Gold during the 2nd quarter worth approximately $859,000. Finally, Cerity Partners LLC lifted its stake in shares of Eldorado Gold by 15.2% during the 2nd quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company's stock worth $733,000 after acquiring an additional 4,758 shares during the last quarter. Institutional investors own 69.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EGO. Weiss Ratings cut Eldorado Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. Scotiabank lowered 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. Stifel Nicolaus raised Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, July 31st. ATB Cormark Capital Markets downgraded shares of Eldorado Gold from a "moderate buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada cut their price objective on shares of Eldorado Gold from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 9th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.83.

Eldorado Gold Trading Up 1.6%

Shares of EGO stock opened at $40.36 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The stock's fifty day moving average is $32.54 and its two-hundred day moving average is $35.30. 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 market capitalization of $10.55 billion, a P/E ratio of 14.31, a PEG ratio of 0.29 and a beta of 0.63.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly 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 business had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. Research analysts expect that Eldorado Gold Corporation will post 3.2 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued 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 payout ratio is presently 10.64%.

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.

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