Candriam S.C.A. Reduces Stock Holdings in Eldorado Gold Corporation $EGO

Key Points

• Candriam S.C.A. cut its Eldorado Gold stake by 11.3% in the first quarter, selling 112,370 shares and leaving it with 880,130 shares valued at about $30.2 million.
• Eldorado Gold shares slipped 1.1% to $30.26, with the stock trading well below its 200-day moving average of $36.48 and far under its 52-week high of $51.16.
• The company beat quarterly expectations, reporting EPS of $0.95 versus $0.69 expected and revenue of $532.43 million, while also paying a quarterly dividend of $0.075 per share.

Candriam S.C.A. lowered its stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 11.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 880,130 shares of the basic materials company's stock after selling 112,370 shares during the quarter. Candriam S.C.A. owned 0.44% of Eldorado Gold worth $30,204,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in Eldorado Gold during the second quarter valued at $32,000. Smartleaf Asset Management LLC bought a new stake in shares of Eldorado Gold in the 4th quarter worth about $33,000. Flagship Harbor Advisors LLC purchased a new position in shares of Eldorado Gold during the 4th quarter worth about $36,000. Aventura Private Wealth LLC purchased a new position in shares of Eldorado Gold during the 4th quarter worth about $36,000. Finally, Wexford Capital LP bought a new position in Eldorado Gold during the 3rd quarter valued at about $37,000. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Stock Down 1.1%

Shares of NYSE:EGO traded down $0.34 during trading hours on Friday, hitting $30.26. The company's stock had a trading volume of 944,093 shares, compared to its average volume of 2,803,724. Eldorado Gold Corporation has a 52 week low of $19.70 and a 52 week high of $51.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 0.18 and a beta of 0.62. The firm's fifty day moving average price is $31.95 and its 200 day moving average price is $36.48.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.26. The company had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. As a group, research analysts expect that Eldorado Gold Corporation will post 3.92 EPS for the current year.

Eldorado Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, June 2nd. Eldorado Gold's dividend payout ratio is 10.68%.

Wall Street Analysts Forecast Growth

EGO has been the subject of several recent analyst reports. Weiss Ratings lowered Eldorado Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, June 11th. Zacks Research upgraded Eldorado Gold from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. National Bank Financial upgraded Eldorado Gold to a "strong-buy" rating in a research note on Wednesday, April 15th. TD Securities lowered 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, Bank of America upped their price target on shares of Eldorado Gold from $31.00 to $33.00 and gave the stock an "underperform" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $43.33.

Eldorado Gold 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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