Beverly Hills Private Wealth LLC Takes Position in Eldorado Gold Corporation $EGO

Key Points

• Beverly Hills Private Wealth LLC acquired 48,129 Eldorado Gold shares in the second quarter, valued at approximately $1.5 million. Institutional investors collectively own 69.58% of the company.
• Analyst sentiment is mixed, with one Strong Buy, four Buys, seven Holds and two Sells; the consensus rating is Hold, with an average price target of $41.83.
• Eldorado Gold reported quarterly EPS of $0.54, exceeding expectations of $0.52, while revenue of $487.5 million fell short of estimates. The company also announced a quarterly dividend of $0.075 per share, representing a 0.8% annualized yield.

Beverly Hills Private Wealth LLC acquired a new position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 48,129 shares of the basic materials company's stock, valued at approximately $1,496,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. L1 Capital Pty Ltd raised its stake in Eldorado Gold by 35.2% in the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company's stock worth $346,283,000 after buying an additional 2,512,168 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Eldorado Gold by 904.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company's stock valued at $65,322,000 after purchasing an additional 1,631,373 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Eldorado Gold by 490.6% during the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company's stock worth $64,193,000 after buying an additional 1,484,503 shares during the period. FIL Ltd acquired a new stake in Eldorado Gold during the 4th quarter worth about $35,473,000. Finally, Cape Ann Asset Management Ltd acquired a new stake in shares of Eldorado Gold during the first quarter worth about $26,045,000. 69.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on EGO. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a "neutral" rating to an "outperform" rating in a research report on Sunday, August 9th. Stifel Nicolaus upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, July 31st. Citigroup cut shares of Eldorado Gold to a "sector perform" rating in a research note on Monday, May 4th. ATB Cormark Capital Markets lowered Eldorado Gold from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada dropped their price objective on shares of Eldorado Gold from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $41.83.

Eldorado Gold Trading Down 0.1%

NYSE EGO opened at $39.69 on Monday. The firm's fifty day moving average price is $32.33 and its 200 day moving average price is $35.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. Eldorado Gold Corporation has a 12 month low of $21.84 and a 12 month high of $51.16. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 0.29 and a beta of 0.63.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $529.92 million. On average, sell-side analysts expect that Eldorado Gold Corporation will post 3.2 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.075 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, September 1st. Eldorado Gold's dividend 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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