Allspring Global Investments Holdings LLC Has $30.79 Million Stock Position in Eldorado Gold Corporation $EGO

Key Points

• Allspring Global Investments boosted its Eldorado Gold stake by 14% in Q1, holding 896,300 shares valued at about $30.8 million.
• Eldorado Gold’s latest quarter beat expectations, reporting $0.95 EPS versus $0.69 expected and revenue of $532.43 million versus $503.31 million estimated.
• Analyst sentiment is mixed but cautious, with a consensus Hold rating and an average price target of $41.83, while recent target cuts came from several firms.

Allspring Global Investments Holdings LLC increased its position in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 14.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 896,300 shares of the basic materials company's stock after buying an additional 110,000 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.45% of Eldorado Gold worth $30,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC acquired a new stake in Eldorado Gold in the 4th quarter valued at $33,000. Flagship Harbor Advisors LLC bought a new stake in shares of Eldorado Gold during the fourth quarter worth about $36,000. Aventura Private Wealth LLC acquired a new stake in shares of Eldorado Gold in the 4th quarter worth about $36,000. Wexford Capital LP acquired a new stake in shares of Eldorado Gold in the 3rd quarter worth about $37,000. Finally, Headlands Technologies LLC bought a new position in Eldorado Gold in the 2nd quarter valued at about $32,000. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Stock Performance

Shares of EGO stock opened at $27.94 on Monday. The firm's 50-day simple moving average is $31.65 and its two-hundred day simple moving average is $36.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. Eldorado Gold Corporation has a 52 week low of $19.70 and a 52 week high of $51.16. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 0.17 and a beta of 0.62.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%.The business had revenue of $532.43 million for the quarter, compared to the consensus estimate of $503.31 million. As a group, equities analysts forecast that Eldorado Gold Corporation will post 3.87 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, June 2nd. Eldorado Gold's dividend payout ratio (DPR) is currently 10.68%.

Wall Street Analyst Weigh In

EGO has been the subject of several analyst reports. Bank of America increased their price objective on Eldorado Gold from $31.00 to $33.00 and gave the stock an "underperform" rating in a research note on Thursday, July 9th. Zacks Research raised Eldorado Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. BMO Capital Markets reiterated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, April 15th. TD Securities reduced their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a "hold" rating for the company in a research note on Tuesday, April 14th. Finally, Scotiabank lowered their target price on shares of 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, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $41.83.

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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