Eldorado Gold Corporation $EGO Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies reduced its Eldorado Gold position by 16.9%, selling 359,000 shares and retaining 1.77 million shares worth approximately $60.8 million. Institutional investors and hedge funds collectively own 69.58% of the company.
• Analyst sentiment is largely neutral: the stock has a consensus “Hold” rating from 13 analysts, with an average price target of $41.83.
• Eldorado Gold reported quarterly earnings of $0.95 per share, exceeding the $0.69 consensus estimate, and revenue of $532.43 million. The company also pays a quarterly dividend of $0.075 per share, equivalent to a 0.9% annual yield.

Renaissance Technologies LLC lessened its holdings in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,771,133 shares of the basic materials company's stock after selling 359,000 shares during the period. Renaissance Technologies LLC owned 0.89% of Eldorado Gold worth $60,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. L1 Capital Pty Ltd boosted its position in Eldorado Gold by 35.2% during the 4th quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company's stock worth $346,283,000 after acquiring an additional 2,512,168 shares during the period. Mackenzie Financial Corp raised its stake in shares of Eldorado Gold by 904.1% during the fourth 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 in the last quarter. Millennium Management LLC raised 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 valued at $64,193,000 after purchasing an additional 1,484,503 shares in the last quarter. FIL Ltd acquired a new stake in Eldorado Gold in the fourth quarter worth about $35,473,000. Finally, TT International Asset Management LTD grew its position in Eldorado Gold by 1,730.9% in the 4th quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company's stock valued at $26,916,000 after buying an additional 710,290 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EGO. Citigroup lowered shares of Eldorado Gold to a "sector perform" rating in a research note on Monday, May 4th. ATB Cormark Capital Markets cut Eldorado Gold from a "moderate buy" rating to a "hold" rating in a report on Monday, May 4th. Royal Bank Of Canada decreased their price target on Eldorado Gold from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Thursday, July 9th. Zacks Research upgraded Eldorado Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Bank of America raised their target price on Eldorado Gold from $31.00 to $33.00 and gave the company an "underperform" rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $41.83.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $31.89 on Monday. Eldorado Gold Corporation has a one year low of $20.15 and a one year high of $51.16. The stock has a fifty day moving average of $31.30 and a 200-day moving average of $36.01. The company has a market capitalization of $8.33 billion, a PE ratio of 11.35, a price-to-earnings-growth 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.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.26. The business had revenue of $532.43 million during the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. As a group, equities analysts anticipate that Eldorado Gold Corporation will post 3.41 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

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

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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