Eldorado Gold Corporation $EGO Shares Newly Bought by RWC Asset Management LLP

Key Points

• RWC Asset Management acquired 793,675 Eldorado Gold shares worth approximately $30.5 million, representing about 0.30% of the company and 1.1% of RWC’s portfolio. Institutional investors collectively own 69.58% of the stock.
• Eldorado Gold shares recently traded at $31.63, well below the 50-day average of $40.64 and the 52-week high of $51.16. The company reported quarterly EPS of $0.54, exceeding estimates, but revenue of $487.5 million came in below forecasts.
• The company pays a quarterly dividend of $0.075 per share, or $0.30 annually, for a 0.9% yield. Analysts’ consensus rating is “Moderate Buy”, with an average price target of $46.57, although ratings range from “Strong Buy” to “Strong Sell.”

RWC Asset Management LLP bought a new position in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 793,675 shares of the basic materials company's stock, valued at approximately $30,549,000. Eldorado Gold accounts for approximately 1.1% of RWC Asset Management LLP's portfolio, making the stock its 22nd largest holding. RWC Asset Management LLP owned about 0.30% of Eldorado Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of EGO. Continuum Advisory LLC acquired a new position in shares of Eldorado Gold in the 2nd quarter valued at $25,000. Farther Finance Advisors LLC boosted 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 buying an additional 887 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in Eldorado Gold during the third quarter worth $58,000. EFG International AG acquired a new stake in Eldorado Gold during the second quarter valued at $62,000. Finally, SBI Securities Co. Ltd. grew its position in Eldorado Gold by 33.6% during the third quarter. SBI Securities Co. Ltd. now owns 4,544 shares of the basic materials company's stock valued at $175,000 after buying an additional 1,143 shares during the period. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Price Performance

Eldorado Gold stock traded down $1.28 during trading on Friday, reaching $31.63. The company had a trading volume of 3,116,396 shares, compared to its average volume of 3,087,046. The firm's 50-day simple moving average is $40.64 and its 200 day simple moving average is $35.43. Eldorado Gold Corporation has a 1-year low of $24.44 and a 1-year high of $51.16. The firm has a market capitalization of $8.27 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.30 and a beta of 0.67. 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 (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The company had revenue of $487.50 million during the quarter, compared to analyst estimates of $529.92 million. As a group, equities research analysts anticipate that Eldorado Gold Corporation will post 3.02 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.0750 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. Eldorado Gold's dividend payout ratio is presently 10.64%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America raised shares of Eldorado Gold from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $32.00 to $54.00 in a report on Tuesday, September 22nd. Canaccord Genuity Group raised shares of Eldorado Gold from a "hold" rating to a "strong-buy" rating in a research note on Friday. Scotiabank dropped their target price 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. Zacks Research lowered Eldorado Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, October 19th. Finally, Stifel Nicolaus upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Eldorado Gold has an average rating of "Moderate Buy" and a consensus target price of $46.57.

About Eldorado Gold

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado's operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.

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