Eldorado Gold Corporation $EGO Stake Decreased by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp cut its stake in Eldorado Gold by 22.8% in Q3, selling 115,292 shares and now holds 389,274 shares (about 0.19% of the company) valued at roughly $11.25 million.
• Several brokerages have lowered ratings and price targets on EGO, leaving a consensus analyst rating of "Hold" and a consensus price target of $43.71.
• Eldorado reported quarterly EPS of $0.63 (missed by $0.01) with revenue of $575.14M (above estimates); the stock opened at $31.33 and was down about 3.2%, and the company pays a quarterly dividend of $0.075 (annualized yield ~1.0%).

Tudor Investment Corp ET AL lowered its stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 22.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 389,274 shares of the basic materials company's stock after selling 115,292 shares during the quarter. Tudor Investment Corp ET AL owned about 0.19% of Eldorado Gold worth $11,246,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Swiss Life Asset Management Ltd purchased a new stake in shares of Eldorado Gold during the third quarter valued at $270,000. Carrhae Capital LLP boosted its holdings in shares of Eldorado Gold by 10.6% during the third quarter. Carrhae Capital LLP now owns 4,994,738 shares of the basic materials company's stock worth $144,298,000 after purchasing an additional 480,253 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Eldorado Gold by 0.9% during the 3rd 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 in the last quarter. Wexford Capital LP acquired a new stake in Eldorado Gold during the third quarter valued at $37,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Eldorado Gold by 14.1% during the 3rd quarter. Verition Fund Management LLC now owns 54,422 shares of the basic materials company's stock valued at $1,572,000 after buying an additional 6,706 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EGO. TD Cowen decreased their target price on Eldorado Gold from $47.00 to $45.00 and set a "hold" rating for the company in a research report on Tuesday, February 24th. Canaccord Genuity Group downgraded Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Friday, February 20th. Royal Bank Of Canada lowered shares of Eldorado Gold from an "outperform" rating to a "sector perform" rating and set a $48.00 price target on the stock. in a report on Tuesday, February 17th. TD Securities dropped their price objective on Eldorado Gold from $47.00 to $45.00 and set a "hold" rating for the company in a research note on Tuesday, February 24th. Finally, Scotiabank cut their price target on shares of Eldorado Gold from $59.00 to $58.00 and set a "sector outperform" rating for the company in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $43.71.

Eldorado Gold Stock Down 3.2%

Shares of Eldorado Gold stock opened at $31.33 on Friday. The company has a market capitalization of $6.22 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 0.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46. The business has a 50-day moving average of $42.31 and a two-hundred day moving average of $34.32. Eldorado Gold Corporation has a 1 year low of $15.30 and a 1 year high of $51.16.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%.The firm had revenue of $575.14 million for the quarter, compared to analyst estimates of $500.42 million. As a group, equities analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Eldorado Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.30 annualized dividend and a dividend yield of 1.0%. Eldorado Gold's dividend payout ratio is presently 12.10%.

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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