Eldorado Gold Corporation $EGO Stock: TT International Asset Management LTD Reduces Stake

Key Points

• TT International Asset Management cut its Eldorado Gold stake by 13.7% in the third quarter, selling 365,525 shares. It retained 2.30 million shares, worth about $88.6 million, representing 9.9% of its portfolio.
• Eldorado Gold reported quarterly EPS of $0.49, below the $0.53 consensus estimate, and revenue of $511.9 million versus expectations of $621.9 million.
• Analysts’ consensus rating was Moderate Buy, with an average target price of $46.57. The company also announced a quarterly dividend of $0.075 per share, equivalent to a 0.9% annualized yield.

TT International Asset Management LTD trimmed its holdings in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 13.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,300,836 shares of the basic materials company's stock after selling 365,525 shares during the quarter. Eldorado Gold makes up approximately 9.9% of TT International Asset Management LTD's investment portfolio, making the stock its 3rd biggest holding. TT International Asset Management LTD owned about 0.88% of Eldorado Gold worth $88,559,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EGO. Continuum Advisory LLC purchased a new stake in Eldorado Gold during the second quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Eldorado Gold by 8.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company's stock valued at $351,000 after acquiring an additional 819 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Eldorado Gold by 217.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company's stock valued at $50,000 after acquiring an additional 887 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Eldorado Gold by 33.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,544 shares of the basic materials company's stock valued at $175,000 after acquiring an additional 1,143 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of Eldorado Gold in the 3rd quarter worth $58,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Price Performance

NYSE EGO opened at $31.67 on Wednesday. The firm's fifty day simple moving average is $39.21 and its two-hundred day simple moving average is $36.82. The firm has a market capitalization of $8.28 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.33 and a beta of 0.67. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. Eldorado Gold Corporation has a 12-month low of $24.60 and a 12-month high of $51.16.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $511.90 million for the quarter, compared to analysts' expectations of $621.90 million. Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. Analysts forecast that Eldorado Gold Corporation will post 2.71 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 1st. Eldorado Gold's dividend payout ratio is currently 10.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EGO shares. Wall Street Zen cut Eldorado Gold from a "hold" rating to a "sell" rating in a research note on Saturday. Scotiabank cut their target price on Eldorado Gold from $55.00 to $47.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. Bank of America upgraded shares of Eldorado Gold from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $32.00 to $54.00 in a report on Tuesday, September 22nd. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a "neutral" rating to an "outperform" rating in a report on Sunday, August 9th. Finally, Zacks Research lowered shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.57.

Eldorado Gold Profile

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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