Eldorado Gold Corporation $EGO Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Eldorado Gold by 1.1% in the first quarter, bringing its holdings to 5.11 million shares valued at about $175.5 million.
• Eldorado Gold reported better-than-expected Q1 earnings of $0.95 per share versus the $0.69 consensus, while revenue also topped estimates at $532.4 million.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $41.83, despite some firms maintaining or issuing outperform/buy ratings.

Dimensional Fund Advisors LP raised its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,113,413 shares of the basic materials company's stock after purchasing an additional 54,964 shares during the quarter. Dimensional Fund Advisors LP owned 2.57% of Eldorado Gold worth $175,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Eldorado Gold in the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC acquired a new position in Eldorado Gold in the 4th quarter valued at about $33,000. Flagship Harbor Advisors LLC acquired a new position in Eldorado Gold in the 4th quarter valued at about $36,000. Wexford Capital LP purchased a new stake in Eldorado Gold during the third quarter worth about $37,000. Finally, State of Wyoming acquired a new stake in shares of Eldorado Gold during the second quarter worth about $58,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock opened at $31.89 on Friday. Eldorado Gold Corporation has a one year low of $20.15 and a one year high of $51.16. The company has a market cap of $8.33 billion, a PE ratio of 11.35, a P/E/G ratio of 0.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62. The business has a 50-day simple moving average of $31.30 and a 200-day simple moving average of $36.01.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The firm had revenue of $532.43 million for the quarter, compared to analysts' expectations of $503.31 million. On average, equities research analysts forecast that Eldorado Gold Corporation will post 3.41 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Eldorado Gold's dividend payout ratio (DPR) is presently 10.68%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EGO shares. Citigroup cut shares of Eldorado Gold to a "sector perform" rating in a report on Monday, May 4th. Scotiabank decreased their price target on shares of Eldorado Gold from $55.00 to $47.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. BMO Capital Markets reissued an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, April 15th. Bank of America boosted their price target on shares of Eldorado Gold from $31.00 to $33.00 and gave the stock an "underperform" rating in a research note on Thursday, July 9th. Finally, ATB Cormark Capital Markets lowered Eldorado Gold from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $41.83.

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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