Beverly Hills Private Wealth LLC Acquires 30,627 Shares of Eldorado Gold Corporation $EGO

Key Points

• Beverly Hills Private Wealth increased its Eldorado Gold stake by 63.6% in the third quarter, adding 30,627 shares to hold 78,756 shares valued at about $3.03 million.
• Eldorado Gold’s latest quarter fell short of expectations: earnings were $0.49 per share versus a $0.53 consensus, and revenue was $511.9 million versus an expected $621.9 million.
• The company declared a quarterly dividend of $0.075 per share, equivalent to an annualized yield of about 0.8%; analysts’ consensus rating was “Moderate Buy,” with a $46.57 average price target.

Beverly Hills Private Wealth LLC grew its holdings in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 63.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,756 shares of the basic materials company's stock after buying an additional 30,627 shares during the quarter. Beverly Hills Private Wealth LLC's holdings in Eldorado Gold were worth $3,031,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Continuum Advisory LLC bought a new position in shares of Eldorado Gold in the 2nd quarter valued at about $25,000. Parallel Advisors LLC raised its holdings in Eldorado Gold by 977.4% during 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. Farther Finance Advisors LLC raised its holdings in Eldorado Gold by 217.4% during the third quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company's stock worth $50,000 after acquiring an additional 887 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Eldorado Gold during the third quarter valued at approximately $58,000. Finally, EFG International AG acquired a new position in Eldorado Gold during the second quarter valued at approximately $62,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Stock Down 0.0%

Shares of EGO stock opened at $35.56 on Monday. Eldorado Gold Corporation has a 52-week low of $26.02 and a 52-week high of $51.16. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.37 and a beta of 0.67. The firm's 50-day moving average is $38.42 and its 200-day moving average is $36.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 1.42.

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 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The business had revenue of $511.90 million for the quarter, compared to the consensus estimate of $621.90 million. Eldorado Gold had a return on equity of 10.31% and a net margin of 31.67%. Sell-side analysts predict that Eldorado Gold Corporation will post 2.69 EPS for the current year.

Eldorado Gold Announces Dividend

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 given a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 1st. Eldorado Gold's dividend payout ratio (DPR) is presently 10.00%.

Analyst Ratings Changes

A number of research firms have weighed in on EGO. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a "neutral" rating to an "outperform" rating in a research note on Sunday, August 9th. Stifel Nicolaus upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their price objective on Eldorado Gold from $37.00 to $41.00 and gave the company a "sector perform" rating in a report on Wednesday, September 16th. Weiss Ratings downgraded Eldorado Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Finally, Scotiabank decreased 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 research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.57.

About Eldorado Gold

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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