Caisse de depot et placement du Quebec Takes Position in Eldorado Gold Corporation $EGO

Key Points

• Caisse de dépôt et placement du Québec acquired 236,436 Eldorado Gold shares worth approximately $7.36 million, representing a 0.09% stake. Institutional investors collectively own 69.58% of the company.
• Analyst sentiment is mixed: Eldorado Gold has an average “Hold” rating and a consensus price target of $43, despite Jefferies initiating coverage with a “Buy” rating and a $50 target.
• Eldorado Gold exceeded quarterly earnings expectations with EPS of $0.54 versus the $0.52 consensus, but revenue of $487.5 million fell short of estimates. The company also declared a quarterly dividend of $0.075 per share.

Caisse de depot et placement du Quebec bought a new position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 236,436 shares of the basic materials company's stock, valued at approximately $7,356,000. Caisse de depot et placement du Quebec owned 0.09% of Eldorado Gold as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of EGO. Savant Capital LLC lifted its position in Eldorado Gold by 2.7% in the fourth quarter. Savant Capital LLC now owns 14,135 shares of the basic materials company's stock worth $508,000 after buying an additional 371 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Eldorado Gold by 0.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company's stock valued at $1,794,000 after acquiring an additional 582 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Eldorado Gold by 8.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company's stock worth $351,000 after acquiring an additional 819 shares during the last quarter. Smartleaf Asset Management LLC bought a new stake in shares of Eldorado Gold in the 4th quarter worth about $33,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Eldorado Gold by 8.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,904 shares of the basic materials company's stock worth $428,000 after purchasing an additional 949 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EGO. Zacks Research lowered shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Citigroup lowered Eldorado Gold to a "sector perform" rating in a research note on Monday, May 4th. Bank of America upped their price objective on Eldorado Gold from $31.00 to $33.00 and gave the company an "underperform" rating in a research report on Thursday, July 9th. Scotiabank dropped their price target on Eldorado Gold from $55.00 to $47.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group started coverage on Eldorado Gold in a research note on Thursday, August 20th. They set a "buy" rating and a $50.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Eldorado Gold currently has an average rating of "Hold" and a consensus target price of $43.00.

Eldorado Gold Price Performance

NYSE EGO opened at $45.48 on Friday. The company has a market cap of $11.88 billion, a PE ratio of 16.13, a P/E/G ratio of 0.33 and a beta of 0.63. The firm's 50 day moving average price is $34.89 and its 200-day moving average price is $35.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. Eldorado Gold Corporation has a 52-week low of $23.95 and a 52-week high of $51.16.

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, topping analysts' consensus estimates of $0.52 by $0.02. The company had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%. Sell-side analysts forecast that Eldorado Gold Corporation will post 3.23 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The business 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 dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. Eldorado Gold's dividend payout ratio (DPR) is presently 10.64%.

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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